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Ruth Chris Steakhouse agrees to repay $20 million loan with Ruth Chris gift cards

Nashville, TN - Ruth Chris Steakhouse announced today that they have agreed to repay a controversial $20 million stimulus loan using 20 million dollars worth of Ruth Chris gift cards.

The company came under fire this week when it was discovered the fine-dining steak chain had secured two $10 million loans meant for businesses with 500 employees or less. After days of negative press on social media and a petition for the company to return the funds, the company finally agreed to do the right thing.

A spokesperson said, "While we had always planned to return the loan at some point, we have decided to expedite the repayment using our highly-coveted gift cards. These premium cards have no expiration date are good at all of our 150 locations."

It is unclear if the treasury department will accept the gift cards as payment, but a truck is currently on its way to Washington D.C. carrying a trailer full of cards in $5 increments.

Stay tuned for more on this story.

Photo credit: Mike Mozart via Flickr

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