Two more restaurant chains have decided to return the money granted them as part of a government stimulus package designed to help small businesses due to the COVID-19 pandemic.
According to an article from NBC and a post from Grub Street, Ruth's Chris Steak House is returning its $20 million forgivable loan while Sweetgreen is returning the $10 million that it had received, both of which were granted via the Paycheck Protection Program (PPP) part of the CARES Act. The two chains join two others that are returning their loans--Shake Shack, which was given $10 million and Kura Sushi, which was granted $5.98 million.
Several restaurant chains have been criticized for securing funding from the PPP which ran out of money in under two weeks, leaving many independent restaurants not getting any funding at least for now. (The PPP was set up to help small businesses maintain their payrolls.)
[Earlier Articles]
Shake Shack Returning $10 Million Granted Through the CARES Act and the Paycheck Protection Program (PPP)
Kura Sushi Returning $5.98 Million Granted Through the CARES Act and the Paycheck Protection Program (PPP)
by Marc Hurwitz (Also follow us on Twitter at @hiddenboston)
[A related post from our sister site (Boston's Hidden Restaurants): List of Restaurant Closings and Openings in the Boston Area]
