Shake Shack Returns $10 Million Coronavirus Stimulus Loan Unlisted Video
4 years ago
9
Restaurant chains received backlash after getting more than $80 million coronavirus stimulus loans. Shake Shack’s chairman Danny Meyer and CEO Randy Garutti announced they would return their loan. According to Business Insider, the Paycheck Protection Program loans are meant for small businesses. Yet hotel and restaurant industries lobbied for chains with fewer than 500 workers per location to apply for the loan. At least six other chains besides Shake Shack received about $81 million loans.
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