More Than 200,000 People Signed A Petition Asking Ruth's Chris To Return $20 Million In Small Business Loans
C'mon Ruth's, step up !
S E E D E D C O N T E N T
Read full article156 Kristin Salaky April 22, 2020, 3:35 PM UTC 
From Delish
More than 200,000 people have signed a petition urging Ruth's Hospitality Group, the company behind Ruth's Chris Steak House, to return the $20 million it was granted via Payment Protection Program (PPP) loans meant to help small businesses during the COVID-19 outbreak. This was first reported on by Business Insider.
Two subsidiaries of Ruth's Hospitality Group—RCSH Operations, LLC and RCSH Operations, Inc.—were each granted PPP loans of $10 million in early April, according to an SEC filing. Shortly after, a petition was created on Change.org urgingRuth's Chris Steak House CEO Mike O'Donnell to return the money to the Small Business Association. As of this writing, the petition has 220,000 signatures.
"Many small businesses are now being told there is no money left for them, and they cannot pay their employees, and may have to close forever," the petition reads in part: "This is a travesty, and a disgusting display of corporate greed during a time of disaster. Tell Ruth's Chris Steak House 'Return the money now! You will be shamed forever if you do not. People will not forget.'"
Delish reached out to Ruth's Hospitality Group for comment but did not immediately hear back.
Related Video: What Experts Say to Stock Up on For Coronavirus Preparation
Ruth's Hospitality Group was able to apply for the loans, which are meant for small businesses like restaurants, because it fulfilled the requirement of having less than 500 employees per location, something that has garnered some backlash from those who feel larger companies have been able to take advantage of this factor. The fund has since been depleted of its $349 million funding before many places were able to apply and countless others were denied.
Shake Shack was similarly criticized last week after it applied for, and received, a $10 million loan through the CARES Act. The company announced it was returning that money on Sunday after receiving additional capital it needed. The company's CEO Randy Garutti and founder Danny Meyer also penned an open letter criticizing the loan application process, calling it "extremely confusing."
Tags
Who is online
187 visitors
Please sign the petition.
done.....
Signed.
Thank you !
posted to facebook.
$91.00 for porterhouse for two? That's a bit "rich".
We use to have one of those in a casino here. Don't know if it is still there. The casinos are closed anyway.
I think the problem with places like chains comes down to franchises. Like McDonald's where one can own a franchise. IMO this is where it gets murky. Corporate can still set guidelines and control content and distribution yet individual owners are still on the hook.
I don't know how the steakhouse operates though. I think Shake Shack did the right thing. They were able to secure funding on their own.
Yeah, that’s the whole thing. For the corporation, it’s not really what I would call a “small business.” But for the individual franchise owner, it obviously is.
Yep. The individual owner basically paid a fee for the likeness. Has to use corporate distribution but is still an owner. Still rises and falls with the individual profit margin. Still has to make payroll.
I don't know how the steakhouse is run though. I was just using fast food franchise as an example of how not all things are black and white.
I can understand getting upset about corporate getting the loans but the individual stores rise and fall like other small business.
They should get loans individually.
Agree.
signed
Signed!
Signed.
signed
Update:
Ruth's Chris Steakhouse to repay $20 million SBA loan
"This was a difficult decision because our employees are extremely important to us, but it’s impossible to ignore the fact that our finances allow us to weather financial hardship for a longer period than independent restaurant owners,” President and CEO Jimmy Uba said in a statement Thursday."