Why Danny Meyer's Shake Shack is returning its $10M PPP loan

Why Danny Meyer's Shake Shack is returning its $10M PPP loan

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Shake Shack Inc., the New York-based burger chain founded by St. Louis native CEO Danny Meyer, said it has obtained new funding and will be returning $10 million in federal stimulus funds it received last week. In a post on LinkedIn Sunday, Meyer, Shake Shack's chairman and founder of CEO Union Square Hospitality Group, and Shake Shack CEO Randy Garutti, also made a plea for improvements to the $350 billion Paycheck Protection Program that would make it easier for struggling restaurants to access…

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