New York (CNN Business) The Cheesecake Factory won't be able to pay its April rent at its nearly 300 locations, highlighting how deeply the coronavirus pandemic is affecting the restaurant industry.

Regulations instituted across several states forced restaurants to close as a way to help stop the spread of the virus. The closures have resulted in a significant revenue decrease for the company.

In a letter addressed to the company's landlords, CEO David Overton wrote that the "severe decrease in restaurant traffic has severely decreased our cash flow and inflicted a tremendous financial blow to our business."

Cheesecake Factory CAKE The letter was first obtained by Eater and the company confirmed its authenticity to CNN Business. Thealso owns a number of other restaurants including North Italia, Flower Child and Culinary Dropout. Some restaurants have remained open for delivery and take-out options.

"Please understand that we do not take this action or make this decision lightly, and while we hope to resume our rent payments as soon as reasonably possible, we simply cannot predict the extent or the duration of the current crisis," Overton wrote in the letter.

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