Thursday, March 26, 2020

Cheesecake Factory Will Skip April Rents, NATIONALLY

Interesting little bombshell.

The Cheesecake Factory, one of the most popular sit-down restaurant chains in the country, says it will not be able to make upcoming rent payments for any of its storefronts on April 1 because of significant loss of income due to the coronavirus crisis.  --quoted at Last Refuge
Margins are slim in the restaurant biz, of course, but this is not Bill and Sally's home-style eats on the corner.

There will be more.

Of course, SOME argue that stiffing landlords, suppliers, and perhaps employees is no big deal compared to a few thousand deaths.  But that landlord and supplier--and ex-employees--will be stiffing THEIR banks, suppliers, and employees, too.

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