“Shake Shack was fortunate last Friday to be able to access the additional capital we needed to ensure our long term stability through an equity transaction in the public markets,” the assertion stated.

“We’re thankful for that and we’ve decided to immediately return the entire $10 million PPP loan we received last week to the SBA so that those restaurants who need it most can get it now,” it added, referring to the Small Enterprise Administration, which processes PPP loans.

Meyer and Garutti acknowledged the criticism of their having received the mortgage in the primary place, saying “businesses across the country were understandably up in arms” when PPP funding ran out in simply 13 days.