The start of the revolution.
payments on all of its 300 storefronts come April 1 after seeing a significant decline in visits to the restaurant.
“Due to these extraordinary events, I am asking for your patience, and frankly, your help,” Cheesecake Factory chairman and CEO David Overton wrote in the letter, and added that the company hopes to be in a financial situation where it can afford to continue paying rent soon. The company has already nationwide as a result of lost income and is stalling its plans to continue developing new restaurants. The Cheesecake Factory later announced in a statement to investors that it would also draw on its $90 million of revolving credit to increase available cash.
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