+
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

Christmas Cookie HQ: The Ultimate Guide to Holiday Cookie Baking
Guides

Christmas Cookie HQ: The Ultimate Guide to Holiday Cookie Baking

by Jen Wheeler | Holiday baking season means lots of cookies, and we have plenty of great Christmas cookie recipes...

Christmas Cheesecake: The Most Wonderful Dessert of the Year
Explainers

Christmas Cheesecake: The Most Wonderful Dessert of the Year

by Jen Wheeler | At Christmas time, there are cookies galore, but true dessert lovers still crave something more substantial...

Christmas Crack: The Easiest and Most Addictive Holiday Gift
How To

Christmas Crack: The Easiest and Most Addictive Holiday Gift

by Mijon Zulu | Want some crack? I mean, crackle? People who have had it love it and it takes less than an hour to...

15 Best Chocolate Chip Cookie Recipes: You Be the Judge
Recipe Round-Ups

15 Best Chocolate Chip Cookie Recipes: You Be the Judge

by Caitlin M. O'Shaughnessy | Since August 4 is National Chocolate Chip Cookie Day, we rounded up the very best chocolate chip cookie...

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.