More than 150,000 people have signed a petition calling for Ruth’s Chris Steakhouse to return $20 million in loans meant to help small businesses
More than 157,000 people have signed a petition calling for Ruth’s Chris to return $20 million in loans from a program designed to help small businesses.
Two subsidiaries of Ruth’s Hospitality Group were granted $10 million each in loans from JPMorgan Chase on April 7, as part of the paycheck protection program intended to support small businesses during the coronavirus pandemic.
While the PPP loans were meant for small businesses, the restaurant and hotel industries successfully lobbied for an exception that allowed any company with less than 500 employees per location to apply for a loan.
Ruth’s Chris, along with chains including Shake Shack and Potbelly, applied for PPP loans and received more than $90 million between seven chains in funding. Shack Shake returned its $10 million loan after backlash, but the other six chains have not yet done so.
“This is a travesty, and a disgusting display of corporate greed during a time of disaster,” reads a Change.org petition. “Tell Ruth’s Chris Steak House ‘Return the money now! You will be shamed forever if you do not. People will not forget.'”
“Demand that Ruth’s Chris Steak House return the money that it, in effect, stole from …continued .
[Source: Business Insider]