In recent days, it's been revealed how large chunks of funds in the Paycheck Protection Program were gobbled up by chain restaurants, hoteliers and publicly traded corporations.
The bakery, known for its eponymous little desserts, sought a Small Business Administration Covid-19 relief loan intended to keep its seven workers, including four full-timers, on payroll. The money would have given the bakery a fighting chance to complete an 11,000-cake order -- a lifeline tossed out by one of its grocery partners. Instead, on Friday, co-owner April Richardson advised three of her workers to file for unemployment.
"Here are 4 free resources that small businesses can access right nowThat's where the proceeds from Potbelly's loans are going, Matt Revord, the fast-casual sandwich chain's chief people officer, said in an emailed statement to CNN Business."Like many other restaurants, Potbelly applied for the PPP," he said."Every penny will be used to financially support the employees in our shops.
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