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With loan money gone, restaurants are at mercy of virus

Many restaurants that got coronavirus relief loans have spent the money and now find themselves in the same precarious position as in the pandemic’s early days.  (File)
Many restaurants that got coronavirus relief loans have spent the money and now find themselves in the same precarious position as in the pandemic’s early days. (File)(KBTX)
Published: Aug. 3, 2020 at 1:35 PM CDT
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NEW YORK (AP) - Many restaurants that got 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 virus’s resurgence in parts of the country has prompted officials in California, Texas, Florida and other states to order restaurants to reduce capacity or even to shut down 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.

(Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.)

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