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Shake Shack gets funding, to return paycheck protection loan

hospital pandemic crisis Coronavirus
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www.clickorlando.com
clickorlando.com:

The burger chain Shake Shack says it has obtained new funding and will return a small-business loan it got to help weather the coronavirus crisis.

Shake Shack has laid off or furloughed hundreds of its employees and needed the assistance, its CEO Randy Garutti and its founder Danny Meyer said in a statement seen Monday.

But the company was able to get extra funding late last week through an “equity transaction” and decided to “immediately return" the $10 million paycheck protection loan it obtained through the CARES Act.

It said, “we’re fortunate to now have access to capital that others do not. Until every restaurant that needs it has had the same opportunity to receive assistance, we’re returning ours." The letter said shutdowns due to

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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Covid-19.rehab - the latest news concerning the spread of the SARS-CoV-2 coronavirus (formerly 2019-nCoV), as well as the infectious disease that it causes COVID-19, in separate countries and in the world as a whole. Current news on the topic of coronavirus SARS-CoV-2. Quarantine, pandemic 2020, epidemic: what is it, when will it come to end, precautions and how to protect yourself from this disease. The most honest news, no fakes! To keep up with the latest news, stay tuned for updates on the site! Every day we will collect news and statistics on coronavirus from around the world for you to be aware of this topic.

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