Fiesta Restaurant Group, the parent company of the Pollo Tropical and Taco Cabana restaurant chains, said it was repaying and returning $15 million in loans under the Paycheck Protection Program.
The Paycheck Protection Program is a relief fund for small businesses in the United States to overcome the crisis more easily during the coronavirus era. However, the grant of loans to large chains under this relief fund had received a huge backlash. Big firms such as Shake Shack, Ruth’s and Potbelly had returned the loans after the backlash. Fiesta Restaurant Group, the parent company of the Pollo Tropical and Taco Cabana Restaurant Brands, also joined the group that returned the loan. Fiesta Restaurant Group said in a statement on Wednesday that they would refund the loan. The firm, which employs more than 10,000 people, had $159.5 million in total revenue in the fourth quarter of 2019, according to current annual data.