The government must “step up and replenish” the stimulus fund: CEO of a New York restaurant

Carmine’s, the iconic Italian restaurant in the heart of Times Square in New York City, is once again open for business. The lively neighborhood pillar has scheduled its reopening for the day Broadway theaters draw their curtains for the first time in more than 18 months due to the coronavirus pandemic.

And the hungry diners filled the house – the 480 restaurant seats were fully booked. “There have been a small number of people who want to go out and celebrate at Carmine’s … The reservations have been fantastic,” Jeffrey Bank, CEO of Alicart Restaurant Group, the parent company of Carmine’s, Virgil’s Real Barbecue and Artie’s in NYC Yahoo Finance Live said.

Although walk-in people are also welcome, the Bank encourages diners to make a reservation on carminesnyc.com. But don’t forget your vaccination record. Dubbed the “Key to NYC,” the order requires all people 12 years of age and older to show proof of at least one dose of a COVID-19 vaccine.

Banks said the group’s restaurants are “probably among the safest places in the country to eat right now,” with all employees also required to be vaccinated.

<a class=NEW YORK, NEW YORK – DECEMBER 23: A view outside Carmine’s in Times Square on December 23, 2020 in New York City. The pandemic continues to weigh on restaurants and bars as businesses struggle to thrive with evolving government restrictions and social distancing plans that impact keeping businesses open while challenging profitability. (Photo by Noam Galai / Getty Images)” src=”https://s.yimg.com/ny/api/res/1.2/JrBptLGRKJQut.0iBc_ucw–/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTYzOQ–/https://s.yimg.com/os/creatr-uploaded-images/2021-09/75830ab0-171f-11ec-afff-8560d4c86c60″/>

NEW YORK, NEW YORK – DECEMBER 23: A view outside Carmine’s in Times Square on December 23, 2020 in New York City. The pandemic continues to weigh on restaurants and bars as businesses struggle to thrive with evolving government restrictions and social distancing plans that impact keeping businesses open while challenging profitability. (Photo by Noam Galai / Getty Images)

“The government must step up”

While Bank and everyone in the restaurant industry are celebrating the return of traffic to the Theater District, a potentially long recovery is looming.

This week, the House Committee on Small Business met to discuss budget reconciliation.

The banks said such relief was “necessary” and that employees wanted to return to work. “The government needs to step up and replenish the restaurant stimulus fund. They’ve created a fund – 300,000 restaurants have applied for help, only 100,000 have been funded [and] 200,000 restaurants await their relief from Congress, “he said.” Independent restaurants don’t stand a chance without government help.

Erika Polmar, executive director of the Independent Restaurant Coalition, told Yahoo Finance the situation was “a bit like having Groundhog Day,” with recurring events as they happened before, once again.

“We feel like we’re going back to where we were in March 2020. With the rise of the Delta variant, we’ve seen more dining restrictions, and also huge consumer hesitation… Restaurants are also facing challenges. mountains and mountains of debt after 18 months of limited capacity operation, sometimes being totally closed. ”

Bank described it this way: “It’s like having open heart surgery, and it’s a good operation, and then the next day everyone thinks you’re fine, you’re not, that’s slow recovery. ”

Brooke DiPalma is a producer and reporter for Yahoo Finance. Follow her on Twitter at @BrookeDiPalma or email him at [email protected]

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