The Cheesecake Factory Gets $200 million Investment from Roark Capital | Eater Chicago

"After the CEO notified landlords that rents due April 1 would not be paid, the chain publicly signaled severe financial strain; shortly afterward Atlanta-based Roark Capital Group bought $200 million in shares, sending the stock up and potentially providing a fiscal lifeline. As part of the deal, Roark will add a board seat for its president, Paul Ginsberg. The company also runs affiliated concepts such as North Italia and a Southeast Asian kitchen brand, has furloughed roughly 41,000 employees, and shifted many locations to delivery and pickup amid pandemic-driven closures. Before the shutdown it operated 294 restaurants across 39 states plus Washington, D.C., Puerto Rico, and Canada, with multiple Chicago-area sites including a downtown unit at the John Hancock Center and suburban locations in Skokie, Oak Brook, Lincolnshire, and Schaumburg." - Naomi Waxman