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Foodservice distributors praise passage of CARES Act, say more is needed

Foodservice distributors praise passage of CARES Act, say more is neededLogo provided.

The International Foodservice Distributors Association is applauding the government's passage of the CARES Act, but Mark Allen, president and CEO of the organization that works to ensure a safe and efficient supply of food to more than 1 million restaurants and professional kitchens in the U.S., says more help is needed.

"The CARES Act will help ease some of the economic devastation caused by COVID-19 by providing cash flow and liquidity to small businesses," Allen said in a press release. "We thank the leadership of the Congress and the President for coming together to act so quickly on this critical issue."  

Foodservice distributors will lose $24 billion in top line sales, receivables and perishable inventory over the next three months due to the coronavirus crisis, the release said. Small businesses operate on paper thin margins and emergency funding can be the economic difference for the future of these entrepreneurs weighing their options right now.

"No business should go bankrupt because of the financial hardships caused by the coronavirus, so while passage of the bill is a good first step, IFDA looks forward to working with Congress on the next phase of economic relief," Allen said. "We urge members of Congress and the administration to act swiftly in a bipartisan manner on additional action to keep our economy running toward recovery," the release said.

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