Michigan liquor buyback program lends $ 3.3 million to bars and restaurants
Governor Gretchen Whitmer’s liquor buy-back program for Michigan bars and restaurants provided $ 3.3 million in temporary financial assistance to on-site liquor licensees.
According to the state, 657 bar and restaurant owners applied for the buyback program, which allowed them to recover cash from spirits purchased from the Michigan Liquor Control Commission before March 16. repay the funds, without interest.
“I know the financial losses have been incredibly devastating for business owners in the hospitality industry during this COVID-19 pandemic,” Whitmer said in a press release on Monday. “I am pleased that through this innovative program we are able to provide much-needed cash to hundreds of Michigan bars and restaurants that are struggling right now, to help them cope until they reopen.” their activities.”
The statement said the “financial lifeline” averaged over $ 5,000 for each company that applied for the program.