Cheesecake Factory's $200M Lifeline Came With a Catch

In March 2020, sales at The Cheesecake Factory's established restaurants fell by nearly half. The company furloughed about 41,000 employees and told its landlords it wouldn't pay April's rent. Then a rescue arrived, with terms attached. Fourteen months later, buying back three-quarters of that stake cost nearly three times what it had brought in. The whole company traced back to a basement in Detroit. #businessstory #founderstory #buybackbusiness #cheesecakefactory #corporatestorytelling