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THE COVE 2

Summary

The Cove was originally awarded an EDGE NEED grant on 10/07/2020. An additional grant award of $5,000 was provided due to the effects of a subsequent Shelby County Health Department health directive placed on restaurants, bars and local grocery stores.

The Cove is a full-service restaurant located at 2559 Broad Avenue in Memphis that has experienced at least a 255 drop in revenue as a result of COVID-19. The restaurant was closed for six weeks. The owner had to cut staff from seven to five employees. Since reopening, sales have been about 60% of average.
• Stabilization and Recovery Plan:
Improving online presence
• Placed billboard near Overton Square
• Promoting patio dining
NEED Grant funds will be used to supplement payroll.

Financing Amount:

$5,000

Projected Total Jobs:

Not applicable

Total Investment:

Not applicable

Approved

1/12/2021

THE COVE 2

2559 Broad Avenue , Memphis, TN 38112