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With federal loan money gone, restaurants are at mercy of coronvirus

coronavirus Outbreak Restaurants PPP Aftermath
Posted at 11:24 AM, Aug 02, 2020
and last updated 2020-08-02 11:24:18-04

NEW YORK — Many restaurants that received coronavirus relief loans have spent the money and now find themselves in the same precarious position as in the pandemic’s early days.

Owners are still struggling with revenue far below normal, and that has forced them to again lay off staffers.

Meanwhile, the resurgence of the virus has prompted officials in California, Texas, Florida and other states to order restaurants closed for a second time.

Congress is debating another relief bill that potentially will have more help for small businesses. While restaurant owners will welcome the aid, they will remain at the mercy of the virus that has decimated their business.