Big-name restaurants pledge to return PPP funds
Big-name restaurants pledge to return PPP funds
Reading Time: < 1 minute(Last Updated On: April 26, 2020)
Following public outcry along with warnings of potential investigations from the Treasury Department, several large restaurant chains have announced that they will return the millions of dollars they obtained in PPP loans.
Included in the chains that have pledged to return PPP funds are Ruth’s Chris Steak House and Potbelly, who together took $30 million in PPP loans. The federal relief was meant to provide aid to small “mom and pop” businesses that have been hit by the economic crisis that came with coronavirus shutdowns.
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