The Cheesecake Factory in trouble?

My husband is a Sheriff Deputy in the evictions unit in our city.

Evictions is a very complicated process - it isn't like they miss their rent on April 1 and will be shut down on April 2. The landlord has to file an injunction against them that then has to be signed by a judge. The Sheriff's Dept then serves them with a notice of intent to evict all before they would be shut down. All this would take at least a month or more.

In Kentucky right now, no evictions (residential or commercial) are happening because the governor required that all evictions be ceased until the threat has passed.
 
My husband is a Sheriff Deputy in the evictions unit in our city.

Evictions is a very complicated process - it isn't like they miss their rent on April 1 and will be shut down on April 2. The landlord has to file an injunction against them that then has to be signed by a judge. The Sheriff's Dept then serves them with a notice of intent to evict all before they would be shut down. All this would take at least a month or more.

In Kentucky right now, no evictions (residential or commercial) are happening because the governor required that all evictions be ceased until the threat has passed.
I wouldn't be scared they're getting evicted. That's a lengthy process as you said. I'd be worried they're gonna get locked out and neither me nor the employees will be able to get at that cheesecake! (Some states allow lockouts of commercial tenants, some don't. Some have a waiting period and then others (hey TX) can lockout as soon as the rent is late unless the lease doesn't allow it.)
 
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Add a zero and multiply a couple times. I would expect there could be premier locations well past $500k/month. In 2003, my national ladies wear chain in a plain old surburban mall paid $75k/month. I worked for a NYC area company with small footprint stores in village Main St locations. In 2008, our most expensive rent was $19,000/month. Ralph Lauren closed its NYC flagship in 2017 because it was cheaper to sit empty with no sales than staff and inventory it. Retail rents defy logic.

Malls need corporate locations that are destination stores with big footprints and sell through. CF is one of those. Mall management companies will renegotiate rents. A well known apparel store planned to close locations and relocate some others to smaller footprints during ‘08 recession. They had several national mall management companies renegotiate their rent for many stores to $0. They only pay a percentage of sales. They closed off entire sections of existing stores because empty selling space costs them nothing. CF is in a great position for renegotiating whether they have the money or not.
I was reading the other day that a couple of the largest mall management companies have told their stores they will not be negotiating with them as far as rent. As far as my 10k/month, I was basing that on one of our restaurants cheaper locations monthly rents. I know some locations can be much much higher.
 


I think they are trying to strong-arm their landlords into forgiving rent. Most of them should have closed Mid-March. I could see them say they were skipping rent due May 1.

Pretty crappy of them - not paying employees OR their creditors!

We occasionally eat there - will rethink once this mess is finished. Have ordered local delivery from a couple of restaurants - both orders were delivered by the managing partners, and both said any tips paid were going directly to their normal waitstaff. Both got hefty tips!
 

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