Following a backlash, Ruth's Chris Steak House says it'll return its $20 million Payroll Protection Plan loan
Photo: John Greim/LightRocket via Getty Images Among all the anger resulting from the mismanagement of the Payroll Protection Plan — ostensibly designed to help small businesses, ultimately seeming only to help big chains — perhaps no company has gotten more heat than the meat-and-potatoes chain Ruth’s Chris, which somehow managed to secure two separate $10 million loans.
Now, though, it seems the Florida-based steak chain has come to the conclusion that this is indeed a bad look — even for a company that is apparently fine with a stupidly awkward name like “Ruth’s Chris” — and the company has announced it will take similar steps to “return” the loan, saying in a statement that it has “decided to accelerate that repayment.”
For those who have been keeping track of Ruth’s Chris , news of their loans was met with immediate backlash, and a Change.org petition drew more than a quarter-million signatures. For a brand built on the idea that it’s, let’s be honest, very boring, this was surely not the kind of exposure they had hoped for.
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