Ever since the 2008 financial crisis, we’ve seen restaurant chains closing their doors left and right. Then, the pandemic hit in 2020, causing even more financial challenges. These restaurant favorites are shutting their doors either completely or partially in 2021, and others are losing money quickly. You might want to visit your favorites while you still can!
The Cheesecake Factory Stopped Paying Its Rent
In March 2020, the Cheesecake Factory’s chairman and CEO David Overton announced in an open letter to its landlord that the popular restaurant chain would not be able to pay rent at any of its 294 locations for the month of April. Within the same month, 27 locations closed its doors.
Employing 38,000 people, the Cheesecake Factory is one of the largest restaurant employers in America. Since the announcement, the Cheesecake Factory stock has fallen by more than 50 percent.
What I witnessed in the area North of OC was too many merchants turning away Carry Out customers to focus on seated customers. Could end up being a big mistake since the people who liver here ARE the customers who are left when the vacationers leave. I was personally informed by the Fenwick Crabhouse that they don’t even serve anyone who walks in for carry out after a certain time. This time last year the only business to be had was curbside or carry out.
Just an FYI…I hear TRAX deli is whinning and in trouble..well the one time i was there.they had MSNBC on the tele.(this was before the election) and saw other indications they are biden supporters so i never went back..GO WOKE GO BROKE!
Pines Public House and Eatery (the old Pizza Hut) has now removed apparently ALL their outdoor seating. Maybe they are banking on carry out to survive the upcoming off season.