March 21, 2022, 12:36 PM
When a series of steakhouses fell on laborious occasions through the pandemic, it turned to the Paycheck Safety Program loans for assist. Two years later, that debt helped bankrupt the corporate.
BLT Restaurant Group filed for Chapter 11 chapter on Friday after it was left with unforgiven PPP loans and didn’t qualify for added aid funds. The 16-year-old firm, which operates BLT Prime on New York’s Higher East Aspect, BLT Steak in Midtown East, and extra eating places from Charlotte to Seoul, halted most operations through the pandemic, and turned one among its New York areas right into a aid kitchen …