+
Melanie Wong | Apr 20, 202012:46 AM     3

" . . . Shake Shack was fortunate last Friday to be able to access the additional capital we needed to ensure our long term stability through an equity transaction in the public markets. We’re thankful for that and we’ve decided to immediately return the entire $10 million PPP loan we received last week to the SBA so that those restaurants who need it most can get it now.

We urge Congress to ensure that all restaurants no matter their size have equal ability to get back on their feet and hire back their teams. We are an industry of 660,000 restaurants with nearly 16 million employees. While it is heartening to see that an additional $310 billion in PPP funding is about to be approved, in order to work for restaurants, this time we need to do it better. . . "

Shake Shack is returning its PPP Loan. Here’s why:

A letter from Danny Meyer and Randy Garutti On March 27, when both branches of Congress and the White House came to an agreement to provide sweeping...

www.linkedin.com
Want to stay up to date with this post? Sign Up Now ›

Invite a friend to chime in on this discussion.

Email a Friend

More from Chowhound

6 Places to Buy Fruit & Vegetable Plants Online
Shop

6 Places to Buy Fruit & Vegetable Plants Online

by Camryn Rabideau | If you're looking for places to buy plants online (particularly those for fruits and vegetables so...

11 Unusual Things to Grill This Summer
Shop

11 Unusual Things to Grill This Summer

by David Watsky | If you're the type who fires up the grill on most days during summer, there's a good chance that the...

Stylish & Shatterproof: Dinnerware You Don't Have to Worry About Dropping
Shop

Stylish & Shatterproof: Dinnerware You Don't Have to Worry About Dropping

by Dan Koday | Unbreakable glasses, plates, and other stylish and shatterproof dinnerware is just what you need for...

12 Stylish Coolers Way Nicer Than the Ones Your Parents Had
Shop

12 Stylish Coolers Way Nicer Than the Ones Your Parents Had

by Simone Paget | Coolers have come a long way in the last few decades. Find a stylish cooler that fits your aesthetic...

Get fresh food news delivered to your inbox

Sign up for our newsletter to receive the latest tips, tricks, recipes and more, sent twice a week.