Shake Shack plans to send back $10 million coronavirus stimulus loan [USA TODAY]
Shake Shack, Inc. Class A (SHAK)
Last shake shack, inc. class a earnings: 2/24 04:05 pm
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Source: USA TODAY
CLOSECONNECTTWEETLINKEDINEMAILMOREShake Shack(Photo: jeepersmedia / Flickr)Shake Shack is sending back the money it received from the government's stimulus loans program aimed at saving small businesses ravaged by the ongoing coronavirus crisis.Shake Shack received $10 million in forgivable loans under the Paycheck Protection Program (PPP), which kicked off on April 3. The plan was meant to help small businesses pay employees during the pandemic. The fund ran out of money on Thursday.On Monday, the New York-based fast-food chain announced on Twitter that it's giving the money back, pointing followers to astatement on LinkedinShake Shack CEO Randy Garutti and founder Danny Meyer said the company sought the loan because it was supposed to be open to all businesses with 500 or fewer employees. The criteria applies to the chain’s individual franchise locations."The 'PPP' came with no user manual and it was extremely confusing," the executives said in a joint statement.We will be returning
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News
- Shake Shack to Participate in Upcoming December Investor ConferencesBusiness Wire
- I tried the biggest burgers at 5 fast-food chains and ranked them from worst to best [Business Insider]Business Insider
- Should Shake Shack's (SHAK) Revenue Outlook and CFO Departure Prompt Investor Attention Now? [Yahoo! Finance]Yahoo! Finance
- Shake Shack (NYSE:SHAK) had its "strong-buy" rating reaffirmed by analysts at Raymond James Financial, Inc..MarketBeat
- Shake Shack (NYSE:SHAK) had its "hold" rating reaffirmed by analysts at Jefferies Financial Group Inc..MarketBeat
SHAK
Earnings
- 10/30/25 - Beat
SHAK
Sec Filings
- 11/26/25 - Form 4
- 11/25/25 - Form 144
- 11/25/25 - Form 8-K
- SHAK's page on the SEC website