LANSING, Mich. — In her press briefing on Monday, Governor Gretchen Whitmer announced a new executive order sending more than $3.3 million in financial relief is to 657 bar and restaurant owners across the state as a financial lifeline, averaging over $5,000 for hard-hit hospitality businesses.
The Michigan Liquor Control Commission (MLCC) is administrator of the governor’s spirits buyback program.
“I know the financial losses have been incredibly devastating to business owners in the hospitality industry during this COVID-19 pandemic,” said Gov. Whitmer. “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.”
Executive Order 2020-46 offers a 100% cash buyback to on-premise liquor licensees for spirits they had ordered from the Commission prior to March 16, 2020. Licensees actually keep possession of the products the Commission bought back, with no bottles being picked up.
Bars and restaurants 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,” said MLCC Chair Pat Gagliardi. “We’re extremely pleased to provide these neighborhood bars and restaurants across Michigan a financial lifeline they can count on in these uncertain times.”
Dine-in services of all bars and restaurants in the state have been suspended since Monday, March 16 by Executive Order as the coronavirus outbreak continued to spread.
For more information on the coronavirus/COVID-19 state of emergency please visit the State of Michigan’s coronavirus website at www.michigan.gov/coronavirus