It has been almost two weeks since the COVID-19 coronavirus pandemic shut down the daily lives of citizens all over the world, but it is a necessary measure being used to flatten the curve of the disease’s rapidity, which grows with each passing day. Unfortunately, as we all do our part to remain healthy and distance ourselves from one another businesses are taking a hit as the unexpected severity of the virus continues to make its mark on the world’s economy.
There are tons of businesses that are remaining open during the pandemic like pharmacies, gas stations and supermarkets because they’ve been deemed as essential during these uncertain times. Unfortunately, as many people flock to stores to stock up on supplies for the indeterminate amount of time we will be self-quarantined, they’re finding that the shelves are bare. And it’s becoming harder to find staples like bread, toilet paper (and in some cases flour) as people greedily take more than they need from the shelves.
While the biggest grocery chains, food suppliers, and consumer goods brands are generally well-equipped to handle this kind of surge in demand, experts say the global reach of their supply chains is contributing to the problem. Many stores have now reduced their opening hours and placed purchasing limits on high-demand products to let workers replenish shelves, but there is still uncertainty throughout their supply chains.
Because of the self quarantine things like going out for a nice dinner with your family are, for now, a thing of the past. And because of this change one of America’s favorite places to grab a bite is being threatened in the face of the global pandemic.
Fox News reports that popular chain restaurant The Cheesecake Factory has been taking a huge financial hit in the wake of the current COVID-19 pandemic. And because of the need for everyone to stay home, even with takeout options, they’re not making enough money to fund their rent for the upcoming month of April.
Cheesecake Factory chairman and CEO David Overton reportedly told landlords in a March 18 letter that a “severe decrease in restaurant traffic” has caused a “tremendous financial blow” amid the COVID-19 outbreak, as many locations have been forced to completely close, while others can only serve take-out and delivery.
“Due to these extraordinary events, I am asking for your patience and, frankly, your help,” Overton allegedly wrote in the plea, obtained by Eater Los Angeles. “Unfortunately, I must let you know that The Cheesecake Factory and its affiliated restaurant concepts will not make any of their rent payments for the month of April 2020.”
So far, the COVID-19 pandemic has caused The Cheesecake Factory to close twenty-seven locations out of the already existing 294. Also, they are halting the development of any new locations at this time.