CBS News: Strip club owner won't have to pay back millions in aid meant for small businesses
The owner of one of the largest chains of strip clubs in the country, Rick’s Cabaret, as well as a chain of military-themed sports bars called Bombshells, got a lifeline earlier this year from a coronavirus relief program meant for small businesses.
“Unfortunately it is a replay of what happened in the early days of the program when many of these wealthy and powerful companies were able to cut in line in order to get money from the program ahead of small businesses,” said Kyle Herring, president of Accountable.US, a watchdog group that has been critical of the program. “We are seeing the same in the forgiveness process.”
Accountable.US’ Kyle Herring said he was in favor of refunding the aid program.
“Small businesses are still struggling,” Herring said prior to the passage of the latest PPP round. “That being said, reasonable restrictions should be put on these funds so that the same mistakes are not made.”