The Cheesecake Factory in trouble?

[SL6827]

Seen an article saying that The Cheesecake Factory will not be able to pay their April 1st rent payment. I have $50 worth of gift cards to there and I am now wondering if I should order some take out tomorrow to get those spent and not risk them going under and being out that $50. Maybe so?

 

[DVCjj]

To play it safe, I personally would take out an order tomorrow (but then again, I love Cheesecake Factory food).

Just an FYI...a restaurant we would often frequent shockingly closed its doors recently. I, my DD1 and DD2/DSIL all had purchased gift cards +promo cards for the next time we went. We each called our credit cards that we used for those purchases and lo and behold we all got credited.....even for the promo cards that were now useless. No clue if you would have the same luck, hence, get some great Cheesecake Factory food tomorrow.

 

[holden]

I'm planning to spend all the restaurant gift cards we have ASAP. Many won't survive being closed for so long.

 

[dvc at last !]

wow

 

[pigletliz]

Just remembered that I got a gift card as a thank you. I better use it today.

 

[SL6827]

I will put in a to go order tomorrow. Everybody lets remember to tip the staff even though these are to go orders. Normally I don't tip to go that much, but tomorrow will be different.

 

[SL6827]

They have a promo now where if you order at least $30 in food you get a free slice of cheesecake. So ya, they must not being doing to well right now.

 

[gottalovepluto]

They have a promo now where if you order at least $30 in food you get a free slice of cheesecake. So ya, they must not being doing to well right now.

Good call, imho anyone with gc should spend them now. Notifying all their landlords they’re not paying April rent for their 300 locations is indeed very bad.

 

[gottalovepluto]

Article here

 

[SL6827]

Good call, imho anyone with gc should spend them now. Notifying all their landlords they’re not paying April rent for their 300 locations is indeed very bad.

I know. I also have like 3-4 Free Slice of Joy gift cards to use as well. They have extended that promo till the end of June, from the end of March, but if they are not in business, it won't do any good to save those till then. I really don't want to go up to Chattanooga tomorrow, but I do need to run in Walmart as well so I might as well go use them. If I don't they will for sure go under and I would be at a loss.

 

[kaytieeldr]

I will put in a to go order tomorrow. Everybody lets remember to tip the staff even though these are to go orders. Normally I don't tip to go that much, but tomorrow will be different.

Excellent reminder! Thank you!

They have a promo now where if you order at least $30 in food you get a free slice of cheesecake. So ya, they must not being doing to well right now.

i don't think the two are related, but thats just my opinion. The original promotion (that was supposed to end yesterday but didn't work when I tried a couple of weeks ago) was if you ordered through doordash with the promo code and spent just $15, you got a free slice.

Promo code, by heway, is FREESLICE. Order online.

 

[mmackeymouse]

I'm planning to spend all the restaurant gift cards we have ASAP. Many won't survive being closed for so long.

Yeah, I have a TON of gift cards to use, many of which are restaurant gift cards. Most of them are corporate so I'm thinking most should be okay. But, there are definitely some gift cards in there that may end up having no value. I hope I'm wrong.

It's interesting, because a couple of weeks ago, people were saying to buy gift cards to your favorite restaurants if you could, to keep them afloat during this time. But, many of those restaurants could go under. So, while it was a noble thought, maybe it wasn't the best suggestion.

I'd also add that Subway has said the same thing, that they are not paying April's rent. I don't foresee anything happening to Subway, so hopefully Cheesecake Factory will be fine. I do have a CF gift card, but the nearest one is 2 hours away, so I doubt I'll be using it anytime soon.

 

[kaytieeldr]

Honestly, with so many Cheesecake Factories being located in Simon Malls, and management closing the malls, I can't see how Simon can ethically evict them. I mean, stores are completely closed (originally dueto the malls closing) but no retailers are threatening to go out of business.

 

[HeightRequirement]

Yup. And the US is just starting to feel the effects of Coronavirus.

 

[Toolulu22]

Oh man, we love our local Cheesecake. Great service! We eat there once or twice per month (at least)! The staff know us, and one in particular told us how she makes a decent living in a management position- with good benefits. I’m sorry to hear that they are struggling.

We are growing tired of cooking and doing dishes and actually ordered lunch take-out from them yesterday. They are offering a limited menu.

I’m going to be sad to see the list of closures after we come out this virus closure period.

 

[SL6827]

I did notice that the Vanilla Bean, the Smores and the Lemon Cheesecake were not on the menu at my store today when I looked online. Hmmmm. It could have been a error but they were not there.

 

[DLgal]

They will likely get a reprieve on the rent, as someone mentioned these are largely attached to large malls, and at this point, likely none of the mall tenants can afford to pay rent. The mall companies will likely grant them an extension on the rent payments.

On another note, how is such a company unable to pay rent only 2 weeks after most shut down? How is it possible that they are already out of money entirely? It seems like they may have been on the brink long before this.

 

[SL6827]

They will likely get a reprieve on the rent, as someone mentioned these are largely attached to large malls, and at this point, likely none of the mall tenants can afford to pay rent. The mall companies will likely grant them an extension on the rent payments.

On another note, how is such a company unable to pay rent only 2 weeks after most shut down? How is it possible that they are already out of money entirely? It seems like they may have been on the brink long before this.

I think you might be right on being on the brink before this, but not sure. I thought I had read somewhere that they weren't doing that great before. So if so, that would be really bad. I love their food. And even though I won't be eating it as much in the future because of my diet change, I would like to have it from time to time.

 

[fsjking]

They will likely get a reprieve on the rent, as someone mentioned these are largely attached to large malls, and at this point, likely none of the mall tenants can afford to pay rent. The mall companies will likely grant them an extension on the rent payments.

On another note, how is such a company unable to pay rent only 2 weeks after most shut down? How is it possible that they are already out of money entirely? It seems like they may have been on the brink long before this.

It's possible that this is just a play to not have to pay rent for a few months. They might have the money on hand to pay all the rents, but would damage the company to do so. So they send a letter to all of them to see which ones they can get out of paying rent for.


Or this is the first domino.

 

[SL6827]

It's possible that this is just a play to not have to pay rent for a few months. They might have the money on hand to pay all the rents, but would damage the company to do so. So they send a letter to all of them to see which ones they can get out of paying rent for.


Or this is the first domino.

Right, who knows? I really don't want to go to the Chattanooga store tomorrow, but I feel like if I don't I will lose out on the 3-4 slices of free cheesecake I have and the $50 gift card I have for there.