Restaurant chain tells area landlords it won’t pay April rent

The Cheesecake Factory, with four locations in the region and 17 in Florida, has sent a letter to its landlords indicating it doesn’t plan to pay rent on its leases in April.

“Given the impact of governmental regulations and landlord decisions to close properties, considering the nature of our rent obligations and as part of ongoing efforts to manage our financial position and further preserve financial flexibility, we are not planning to pay rent on our leases for the month of April 2020 at this time,” the company states in a March 27 public filing with the Securities and Exchange Commission.

In the letter, The Cheesecake Factory founder, Chairman and CEO David Overton says that due to the extraordinary events around the coronavirus pandemic, “I am asking for your patience, and, frankly, your help.”