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Stock impact report

Potbelly Returning Payroll Protection Program Loan

Potbelly Corporation (PBPB) 
Last potbelly corporation earnings: 2/25 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: investors.potbelly.com/investor-relations
Company Research Source: GlobeNewswire
CHICAGO, April 25, 2020 (GLOBE NEWSWIRE) -- Potbelly Corporation (NASDAQ: PBPB) today released the following statement. Potbelly’s sales dropped dramatically when COVID-19 hit, forcing us to furlough employees, close shops, and significantly cut salaries at all levels of the organization. In order to financially support our in-shop employees, and based on SBA guidelines, we applied and qualified for assistance under the Payroll Protection Program (“PPP”). We were surprised and disappointed when the fund was quickly exhausted, leaving many without help. We are returning the PPP loan after further clarification from the Treasury Department. We will continue to seek alternatives to help support our employees and enable them to return to work so they can serve our loyal customers. About Potbelly Potbelly Corporation is a neighborhood sandwich concept that has been feeding customers’  smiles with warm, toasty sandwiches, signature salads, hand-dipped shakes and other fresh menu item Show less Read more
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