Cheesecake Factory to Offer Limited Dining at 65% of Its Restaurants by Mid-June
The Cheesecake Factory (NASDAQ: CAKE) announced last Friday it plans to have approximately 65% of its restaurants open for dine-in by mid-June. This amounts to 124 Cheesecake Factory locations in all. The plans call for limited seating availability to ensure proper social distancing between diners in order to lessen the risk of COVID-19 transmissions.
During the worst of the coronavirus pandemic's first wave, Cheesecake Factory took several steps to bolster its sales as dine-in facilities closed. These included the introduction of cheesecake-flavored ice cream in supermarkets along with to-go alcohol sales at many restaurant locations. The company also got a $200 million liquidity boost in the form of an investment from Roark Capital, which added two nominees to Cheesecake Factory's board of directors.
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Source Fool.com
