LANSING, MI (WKZO AM/FM) — 657 bar and restaurant owners will be receiving $3.3 Million in financial relief thanks to the state spirit buyback program.
Late last month, the program was initiated as a result of COVID-19 to help provide financial relief to bars and restaurants licensed to sell liquor. The Michigan Liquor Control Commission (MLCC) is the administrator of the program.
“I know the financial losses have been incredibly devastating to business owners in the hospitality industry during this COVID-19 pandemic,” Whitmer said Monday. “I am pleased that through this innovative program, we can provide much-needed cash to hundreds of Michigan’s bars and restaurants that are struggling right now, to help tide them over until they’re open for business again.”
According to Whitmer’s office, licensees keep possession of the products the Commission bought back, with no bottles being picked up. Bars and restaurants will have 90 days after emergency declarations are lifted to repurchase the inventory by selling it when they’re back open for business and pay the Commission back interest free.
“The Commission is proud to be a part of the governor’s one-of a kind liquor buyback,” MLCC Chair Pat Gagliardi said. “We’re extremely pleased to provide these neighborhood bars and restaurants across Michigan a financial lifeline they can count on in these uncertain times.”
Eligible licensees applied for the spirits buyback program directly through the MLCC from April 14-24. Once applications were approved by the MLCC, checks were issued to licensees from the Michigan Department of Treasury.
Dine-in services of all bars and restaurants in the state are still suspended at this time.
The latest information about the COVID-19 outbreak can be found at the State of Michigan’s coronavirus website.
