The Cheesecake Factory (NASDAQ:CAKE) informed landlords that it won't be able to make rent payments due on April 1 for any of its storefronts, according to a report from Eater Los Angeles.

The restaurant company informed all of its landlords in a letter that a "severe decline" in restaurant traffic has decreased its cash flow and inflicted a tremendous financial blow to business levels.

"I am asking for your patience, and frankly, your help," wrote CEO David Overton to the landlords on March 18.

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