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Stock impact report

Potbelly says it will return $10 million small business loan, following others after outrage [MSNBC.com]

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: MSNBC.com
A sign alerts Potbelly Sandwich Shop customers that it is open for pick-up and takeout only due to the coronavirus outbreak in Washington, D.C., U.S., on Tuesday, March 17, 2020. Photographer: Andrew Harrer/Bloomberg via Getty ImagesAndrew Harrer | Bloomberg | Getty ImagesThe sandwich shop chain followsother large, public companiesran dry earlier this monthlarge-cap public companies who received the assistanceThe government has allocated at least $243.4 million of the PPP loans to publicly traded companies, according to research from Morgan Stanley. However, the program was primarily designed to help mom-and-pop shops to keep paying their employees. "We were surprised and disappointed when the fund was quickly exhausted, leaving many without help," Potbelly said ina statementPotbelly said its sales dropped dramatically when the virus hit, and that it was forced to furlough employees, close locations and significantly reduce salaries at all levels. In order to support in-shop workers, Show less Read more
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