Fast-casual operator joins other restaurant companies in returning coronavirus relief

The goal is to recoup loan funds intended for small business recovery that were awarded to large public companies

Coronavirus restrictions heavily impact franchised locations, company says in filing

Chicago-based sandwich chain, with more than 440 units, joins other publicly-traded companies giving up federal aid from the Paycheck Protection Program designed for small businesses

The move is a result of the Treasury Department’s updated guidance on eligibility for public companies

Paycheck Protection loans to be replenished as Treasury updates guidelines to narrow applicant pool

The steakhouse chain faced criticism for receiving a federal loan designed for small businesses; other chains returning funds include Sweetgreen, Shake Shack

The chains join Shake Shack in returning relief funds earmarked for small businesses; many independent restaurants have not received funding

The bipartisan bill is expected to be approved by the House on Thursday and the President has indicated he will sign it