De Niro-backed Nobu restaurants took more than a dozen PPP loans


Robert De Niro (L) and chef Nobu Matsuhisa appear during a preview for the Nobu Restaurant and Lounge Caesars Palace on February 2, 2013 in Las Vegas.

David Becker | Getty Images

The Nobu group of luxury sushi restaurants and hotels took 14 loans from the U.S. small business relief program for as much as $28 million, according to government filings.

The chain, founded by actor Robert De Niro, celebrity chef Nobuyuki “Nobu” Matsuhisa and film producer Meir Teper, got funding for properties scattered across the country, from California to Texas and New York, according to data released Monday.


Read More

California asks more counties to close indoor businesses as cases grow


Junior’s Cheesecake owner warns of constant openings and closings of restaurants 

Many restaurants may struggle to survive if government mandates during the coronavirus pandemic result in their constant opening and closure, Junior’s Cheesecake owner Alan Rosen warned Monday on CNBC. 

“This opening and closing could be the death knell of restaurants in this country. When people are buying up food, then you throw out $100,000 worth of food, it’s the end of you,” Rosen said on “Power Lunch.” 

Rosen, whose family owned business has three restaurants in New York City and another in Connecticut, said he has been cautious in

Read More

Restaurant chains that received millions in PPP loans during coronavirus crisis


A statue of a horse stands at the entrance to a P.F. Chang’s restaurant in Schaumburg, Illinois.

Scott Olson | Getty Images

Large restaurant chains once again received millions in loans from the Paycheck Protection Program, according to data released Monday by the Small Business Administration. 

Businesses in the accommodation and food services sector received more than $42 billion in funding from the program, accounting for 8.07% of the round’s total loans. Roughly $130 billion of the program’s $660 billion remains up for grabs.

The federal program was intended to help struggling businesses that had fewer than 500 workers, but

Read More

Shoppers across the country are retreating again as coronavirus cases surge


An employee wearing a face mask is pictured inside a shop at Westfield Santa Anita mall during the outbreak of the coronavirus disease (COVID-19), in Arcadia, California June 25, 2020.

Mario Anzuoni | Reuters

Just as shoppers were beginning to inch back to stores, with local economies reopening and malls turning their lights back on, retail traffic declines are accelerating yet again, according to a report. 

Retail traffic in the U.S. was down the most so far in 2020, on a year-over-year basis, during the week ended April 18, according to data from the retail consultancy ShopperTrak. It fell 82.6%. 

Read More