Weak Sauce? US relief bill may be too skimpy for restaurants

New York (AFP) – Washington’s long-awaited pandemic relief package offers a lifeline to the devastated US restaurant industry, but eateries still face months of turmoil before they are clear of the coronavirus crisis. The $900 billion bill that provides more funding for the Paycheck Protection Program (PPP), comes too late for the estimated 110,000 restaurants that have closed their doors permanently. Those that survived the shutdowns and restrictions on indoor dining, can borrow up to $2 million in loans that would convert to grants if at least 60 percent is spent on payroll.  Despite some im…

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HEDGE accordingly