PROVIDENCE BUSINESS NEWS
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APRIL 10 - 16, 2020
HEALTH CARE
PBN SUMMIT RECAP
Coronavirus impact will be long-lasting | 16
DINING OUT
From disaster comes good | 5
YOUR SOURCE FOR BUSINESS NEWS IN SOUTHERN NEW ENGLAND | VOL. 35, NO. 3 | $2
CORONAVIRUS CRISIS
Stressed employers jostle for SBA help
SWITCHING GEARS
BY NANCY LAVIN | Lavin@PBN.com
THE ROLLOUT OF FEDERAL RELIEF programs offered a much-needed source of funding and of hope to small businesses struggling in the coronavirus pandemic. But securing the aid via the U.S. Small Business Administration’s Paycheck Protection Program and the E conomic Injury Disaster Loan program has been easier said than done. Confusing federal guidelines, complicated applications and restrictions by SBA lenders on who they will underwrite loans for have created even more stress for small-business o wners.
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MORE INSIDE: n I nsight into stimulus aid for small
businesses. Page 14 nF inancial losses mount at colleges and universities. Page 15 nR .I. theater, arts scenes show signs of life. Page 20 nT his is the time to adapt your marketing. Page 27
MASK MAKERS: Employees at John Matouk & Co. stitch cloth personal protective equipment at the company’s Fall River facility. COURTESY JOHN MATOUK & CO.
Local factories retool to meet the needs of pandemic fight BY MARY MACDONALD | MacDonald@PBN.com
MATOUK
LUXURY LINENS IS KNOWN for exquisite bedding, an elegant product aimed at Americans who shop in department stores for towels, sheets and pillowcases. That was before March, before Bloomingdale’s Inc. closed all of its stores, soon to be followed by Macy’s and other retailers. In the span of a few weeks, long-standing orders for linens were canceled at Fall River-based John Matouk & Co., forcing an immediate reckoning. Through a single closure – Bloomingdale’s – Matouk lost 30% of its revenue, with no reopening in sight, said George Matouk Jr., CEO of John Matouk & Co. Twenty percent of the workforce was laid off. SEE RETOOL
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Brides, grooms, wedding industry anguished BY MARY MACDONALD | MacDonald@PBN.com
MAY 15 WAS SUPPOSED TO BE THEIR DATE. Becky Regan and fiancé Jason Techok settled on that date almost a year ago, one of the first
steps in planning their wedding. May 15 is still their date. But their ceremony will be a tiny affair this year, with only their closest family members attending. And the reception will follow a year later, on May 15, 2021, hope-
FOCUS: MEETINGS, CORPORATE & SOCIAL EVENTS
fully giving COVID-19 enough of a window to disappear. Like couples all across the country, Regan, who grew up in Rhode Island and works for SEE WEDDINGS
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April 16, 2020 | 9-11am For more information turn to page 11.