In a letter addressed to the company's landlords, CEO David Overton wrote that the "severe decrease in restaurant traffic has severely decreased our cash flow and inflicted a tremendous financial blow to our business."and the company confirmed its authenticity to CNN Business. The Cheesecake Factory also owns a number of other restaurants including North Italia, Flower Child and Culinary Dropout. Some restaurants have remained open for delivery and take-out options.
Matthew Clark, chief financial officer for the Cheesecake Factory, said in a statement to CNN Business that the company has "very strong, longstanding relationships" with its landlords.
What about the months they were doing huge profits...No provisions or savings..If so it's really bad management...First fire the CEO..If insufficient terminate the business since it never meant to be lucrative...
old old news from the US 3 day old news
... and the paperwork begins, only to be put on Hold... Evictions frozen by the Province
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