By Eric L. Wesson Sr.
CALL Staff Writer
Tens of thousands of companies across the country as well as renters have let it be known that on April 1, they would be
holding back their rent due to the economic crisis that COVID 19 has created.
The Cheesecake factory for example have furloughed over 41,000 employees and closed 27 of its restaurants, including
two of its namesake restaurants. The company has also drawn down $90 million of its line of revolving credit to cover some
of its expenses.
Matthew Clark, chief financial officer of the Cheesecake Factory said, “We have to take into consideration in terms of understanding
the nature of our rent obligations and the respect to managing our financial position and our priorities.”
Clark later announced that the company won’t be paying their April 1 rent. He added, “We have a very strong, longstanding
relationship with our landlords. We are certain that with their partnership we will be able to work together to weather this storm in the appropriate manner.”
It is great the companies like the Cheesecake Factory and Olive Garden and others can draw down off of the tens of millions of dollars they have available on their line of credit to pay their rent and other obligations, but what about the countless others who don’t have that type of line of credit and their rent was due on April 1. Who helps them?
A roof over ones head is simply the most basic of needs in life.