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Stock impact report

Shake Shack returning $10 million government loan meant for small businesses [MSNBC.com]

Shake Shack, Inc. Class A (SHAK) 
Last shake shack, inc. class a earnings: 2/24 04:05 pm Check Earnings Report
Company Research Source: MSNBC.com
Shake Shack, one of several large restaurant chains that got federal loans through the coronavirus stimulus law meant to help small businesses, said Sunday night that it is giving all $10 million back.The New York-based hipster-favorite burger company is amongmore than a dozen companiesset aside $349 billion in the stimulus law called the CARES Act to help small businessesLet our news meet your inbox. The news and stories that matters, delivered weekday mornings.This site is protected by recaptchaPrivacy PolicyIn a statement Sunday night on LinkedInFull coverage of the coronavirus outbreak"The 'PPP' came with no user manual and it was extremely confusing," they wrote.The program offered to forgive the loans if recipients rehired furloughed and laid-off workers by June, and because Shake Shack and its parent company had already furloughed hundreds of employees, they said, they gambled that "the best chance of keeping our teams working, off the unemployment line and hiring back our furl Show less Read more
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