How Much Stimulus Did Ruth Chris Get
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Ruth s chris steak house receives 20m in coronavirus relief the company like so many others had to curtail operations at locations across the nation to limit the economic fallout created by the.
How much stimulus did ruth chris get. Shake shack returned its 10 million coronavirus stimulus loan. The ruth s chris parent earned profit of 42 million in its 2019 budget year on sales of 468 million. The owner of the high end ruth s chris steak house chain is among the first public companies to disclose it has received a government backed loan to keep people on its payroll.
A firestorm of public backlash and new guidance from the federal government related to the embattled paycheck protection program prompted ruth s chris to return a 20 million loan and more. Luckily my business is strong enough to weather this whole thing with just a bit of a ding but it s just annoying to see billions of dollars laid out to supposedly help folks like us out but only in. The maximum loan under the ppp is 10 million.
Ruth s chris potbelly and other chains are keeping more than 81 million meant for struggling small businesses. Fwiw i did get a 1k grant from the last round of stimulus so i know how to proceed but let s be real i burned through that in no time flat. Ruth s hospitality group inc a company with more than 5 000 workers received 20 million in forgivable loans on april 7 according to a securities filing.
Ruth s chris steak house a chain that has 150 locations and is valued at 250 million reported receiving 20 million in funding from the small business portion of the economic stimulus.
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