The hamburger chain Shake shack She is returning a $ 10 million loan she received from the government as part of the small business aid program to pay workers for the coronavirus crisis.
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Shake Shack CEO Randy Garutti and President Danny Meyer hit an open letter This Monday the company does not need the money because they are “fortunate to have access to capital that others do not have.”
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Regarding the government’s small business aid program, executives noted: “While the program was touted as a relief for small businesses, we also understood that it stipulated that any restaurant business, including chains with no more than 500 employees per location would be eligible … Few restaurants in the US employ more than 500 people per location. That meant that Shake shackWith approximately 45 employees per restaurant, you could and should request it. “
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But “late last week, it was announced that funds for the small business program had been exhausted … If this law was written for small businesses, How is it possible that so many independent restaurants whose employees will need so much help could not receive funds? We now know that the first phase was underfunded, and many of those who need it most have not received help. “
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Then, hamburger chain executives “urge” Congress to “ensure that all restaurants, regardless of size, have the same ability to recover and hire their teams.”
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