Texas Strip Club Owner Got $5.4 Million From Paycheck Protection Program
HOUSTON (CBSNEWS.COM) — The owner of one of the largest chains of strip clubs in the country, Houston-based Rick's Cabaret, as well as a chain of military-themed sports bars called Bombshells, got $5.4 million from the government's small business coronavirus relief fund.
The loan is notable for its size: It's roughly 54 times the average loan made through the small business aid program. It's also notable for this: Strip clubs were specifically barred from the Paycheck Protection Program.
RCI Hospitality, the owner of Rick's, received funding from the Paycheck program in early May, according to its quarterly financial statement filed with the U.S. Securities and Exchange Commission.
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