NYC-based Hot Dog Company Nathan’s Famous Returns $1.2M Loan from PPP | Eater NY

"After receiving a $1.2 million Paycheck Protection Program loan on April 21, I noted that the Long Island–based hot dog purveyor—valued at about $252 million—filed with the SEC that it will return the loan following Treasury guidance urging public companies to repay; the company reported operating 259 restaurants and franchise locations as of March 2019, many of which have temporarily closed due to coronavirus, but it has been buoyed by locations that remain open, notably its restaurant on the Coney Island boardwalk, and by increased sales of Nathan’s products at grocery stores; however, I also noted that even if locations reopen for summer, the company may not have the hot dogs needed to supply them because Smithfield Foods, its primary manufacturer, has closed." - Luke Fortney