The Cheesecake Factory, with more than 200 restaurants across the U.S. and more than $2bn in annual revenues, today warned its landlords they will not be getting rent in April.
The Calabasas Hills-based company informed all of its landlords in a letter dated March 18 (reproduced below) that a severe decline in restaurant traffic has decreased its cash flow and “inflicted a tremendous financial blow” to business. Cheesecake Factory’s affiliated restaurants, such as Rock Sugar and North Italia, will also not make April 1 rent payments.
Company chairman and CEO David Overton writes, “Due to these extraordinary events, I am asking for your patience, and frankly, your help.” He continues, “we appreciate our landlords’ understanding given the exigency of the current situation.” The letter says that the company hopes to resume paying rent as soon as possible.
The U.S. State Department says Russia is exploiting a well-established online operation that includes proxy websites to amplify coronavirus disinformation and conspiracy theories.
Facebook also took down a Trump post for the first time, citing COVID-19 misinformation ban
COVID-19 sure has created some weird shortages. Clorox disinfectant wipes are one such product.
After years of hearing a steady drumbeat about the necessity of surfing the web under the protection of a VPN, even the most technophobic among us are starting to come around. But even knowing the dangers one can face from cybercrooks phishing for information from unsuspecting victims online, those last holdouts still have some fears. […]
You may not realize it, but some of the biggest films in movie history have been edited using the same tools some of you use to cut your video of vacationing at Disney World. Giant movies from Oscar favorites The Social Network and Gone Girl to blockbusters like Avatar, Deadpool, and last year’s Terminator: Dark […]
Now that the initial furor and shortages have subsided, it’s probably not a bad time to start considering your long-term cleaning and disinfecting plans. Sure, that might seem anywhere from overly cautious to outright ridiculous, but the threat of COVID-19 appears poised to be present for a while and the need for quick travel clean-up […]