The Cheesecake Factory won’t make April rent payments

By MixDex Article may include affiliate links

The Cheesecake Factory has notified its landlords that it won’t be making its April 1, 2020 lease payments.

The restaurant chain known for its massive menu, quirky decor and, of course, cheesecake, said it is tapping into a $90 million line of credit to increase liquidity in wake of reduced income as a result of the coronavirus outbreak.

It is also stopping construction on unopened restaurants where possible and 27 of its locations have temporarily closed down completely.