The Oakland City Council voted last night to give Merritt Bakery a $150,000 loan to stay afloat, despite the fact that an independent audit of the business suggests “insurmountable” financial difficulties. Since last October, the city of Oakland has funneled a total of $358,000 to the 58-year-old restaurant and bakery, as the Tribune reports, but that hasn’t helped it to pay off $800,000 in debts.
Mayor Ron Dellums approved the new loan, which isn’t likely to be paid back, in order to save the 55 jobs at the restaurant.
Most locals are more than aware, however, that the quality of the food at the Merritt has declined since its glory days, and it hasn’t helped that menu prices have risen steeply in the last few years to offset some high personnel costs. Parking has become a problem as well, since the next door Lucky supermarket doubled in size. Still, some swear by the pork chops and eggs.
See ABC 7’s report from last night, prior to the Council approving the loan.
Storied Merritt Bakery Receives $150,000 Loan from the City [Oakland Tribune]