As fire investigation continues, DLT expedites outreach for Matunuck Oyster Bar employees
Investigators from the Rhode Island Office of the State Fire Marshal take photos after the fire at the Matunuck Oyster Bar on Tuesday, May 20, 2025. (Photo by Laura Paton/Rhode Island Current)
The Rhode Island Office of the State Fire Marshal is investigating the cause of Tuesday's early morning fire that engulfed the popular Matunuck Oyster Bar in South Kingstown and left more than 300 full-time and seasonal employees out of work.
No injuries were reported from the blaze that seriously damaged the waterfront restaurant on Succotash Road ahead of Memorial Day weekend. Heavy smoke and flames were coming from the restaurant at the time firefighters arrived at approximately 3:45 a.m., according to Associated Press reports.
Restaurant employees surrounded Perry Raso, the restaurant's owner, in a group hug outside the burned out building late Tuesday morning as firefighters continued to work at the scene.
'While the damage to our building is devastating to me, our patrons, and our employees, we are very thankful no one was injured,' Raso said in a statement Tuesday night. 'I'd like to extend a heartfelt thank you to our neighbors, patrons, partners, colleagues and friends from Rhode Island and beyond, who have reached out over the last several hours with selfless offers to help. We are humbled and grateful for what Matunuck Oyster Bar represents to so many people. While we are heartbroken that our doors will be temporarily closed, we are committed to opening them back up and welcoming guests back to our tables as soon as possible.'
Rhode Island Department of Labor and Training Chief Public Affairs Officer Edwine 'Drine' Paul said a department official connected with the restaurant's owner Tuesday afternoon.
'The department is coordinating efforts with the restaurant to expedite our rapid response services to support all of the impacted workers,' Paul said. 'We want to make sure that we support them at this difficult time.'
Raso said his team is assessing its next steps. 'Our first priority is in finding ways to assist our more than 300 full-time and seasonal employees, whose service and dedication have made Matunuck Oyster Bar what it is today, and who rely on this business to support themselves and their families,' he said. 'We are currently working closely (with the) Department of Labor & Training, the Governor's Office, and other public officials to identify available resources, and we are committed to staying in direct contact with our team members as our long-term plan for Matunuck Oyster Bar is developed.'
Raso opened Matunuck Oyster Bar in 2009, selling the fresh oysters harvested at the Matunuck Oyster Farm, the wading depth aquaculture farm he founded on Potter Pond in East Matunuck. The restaurant had commercial docks that facilitated access for work boats.
Matunuck Oyster Bar has received numerous accolades, including making USA Today's Restaurants of the Year list.
The cause of the fire remains undetermined, and the state fire marshal's office is actively investigating, Matt Touchette, a spokesperson for the office said.
Updated at 7:08 p.m. with statement from Perry Raso.
Matunuck Oyster Bar owner Perry Raso is shown after the fire on Tuesday, May 20, 2025. (Photo by Laura Paton/Rhode Island Current)
Matunuck Oyster Bar damand is shown after the fire on Tuesday, May 20, 2025. (Photo by Laura Paton/Rhode Island Current)
Matunuck Oyster Bar damand is shown after the fire on Tuesday, May 20, 2025. (Photo by Laura Paton/Rhode Island Current)
A chain link fence surrounds the fire damaged Matunuck Oyster Bar on Tuesday, May 20, 2025. (Photo by Laura Paton/Rhode Island Current)
Firefighters are shown after the fire at Matunuck Oyster Bar on Tuesday, May 20, 2025. (Photo by Laura Paton/Rhode Island Current)
A couple who are friends of the Matunuck Oyster Bar owner console each other after witnessing the damage. (Photo by Laura Paton/Rhode Island Current)
Matunuck Oyster Bar owner Perry Raso is not visible as staff and friends embrace him outside the waterfront South Kingstown restaurant hours after a fire broke out there on Tuesday, May 20, 2025. (Photo by Laura Paton/Rhode Island Current)
Employees at the Matunuck Oyster Bar hug. (Photo by Laura Paton/Rhode Island Current)
SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
AMC Entertainment Draws Bigger Crowds as Investor Confidence Fades
AMC Entertainment (AMC) just posted its best Memorial Day weekend ever, setting new records for both ticket sales and concession revenue. But despite packed theaters and positive box office momentum, the stock has dropped more than 16% over the past week. The disconnect highlights a deeper issue: while strong movie turnout is encouraging, it's not enough to offset the company's underlying financial challenges. With lingering structural issues, ongoing meme-driven volatility, and more attractive opportunities elsewhere in the sector, I remain bearish on AMC for now. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter There's no denying that AMC is enjoying some genuine momentum. The Memorial Day weekend was a clear highlight, as more than 7 million people went to an AMC to catch a movie (or two) over the holiday. This helped the company set new records for admissions, food and beverage sales, and overall revenue. Furthermore, the industry is experiencing upward trends. After a brutal start to 2025, the spring months brought a welcome turnaround. April's box office results were double what they were the previous year, suggesting that audiences are returning to theaters (finally). AMC is looking to ride the wave of returning moviegoers by doubling down on offering 'premium experiences', including upgraded seating, enhanced sound systems, and larger screens. These premium formats command higher ticket prices, which should help boost revenue per customer. Finally, the company has recently announced it is experimenting with new advertising strategies, potentially creating another revenue stream. Despite riding a rising tide and operational improvements, AMC's financial health remains problematic. The first quarter of 2025 was particularly challenging, with several key metrics heading in the wrong direction. Revenue dropped by 6.7% year-over-year, falling to $862.5 million. Furthermore, AMC reported a loss of $202.1 million for the quarter, compared to a loss of $163.5 million during the same period in 2024. The impact this has had on AMC's cash reserves is alarming. Cash levels have dropped dramatically from $632.3 million to just $378.7 million. This rapid cash burn is worrying. Ultimately, AMC's debt is a significant burden. The company carries a staggering $8.28 billion in total debt, with $43 million in debt payments due this year, $173 million next year, and a whopping $526 million in 2027. With less than $400 million in cash, its interest coverage ratio is now an anemic -0.18. AMC's leadership team remains bullish about the company's prospects. Management is projecting annual revenue growth of about 7% over the next three years. While this sounds encouraging, it's actually slightly below the average for the broader entertainment industry, suggesting AMC may continue to face headwinds even in a recovery scenario. Analysts following the company hold a mixed outlook for its prospects, rating it a Hold overall, with a 12-month price target of $2.92. Most recently, Texas Capital's Eric Wold rated AMC a Hold, with a price target of $3. Noting AMC's significant debt and upcoming maturities, he suggests cash flow challenges from rising interest expenses could impact the company's equity valuation. Meanwhile, B. Riley's Drew Crum has lowered the price target on AMC to $3, while maintaining a Neutral stance. He maintains a generally positive outlook for the industry, given a robust upcoming slate of Hollywood films that are expected to drive box office recovery. Citi analyst Jason Bazinet holds a more pessimistic view, recently reiterating a Sell rating. However, he slightly increased the price target to $2.60, citing changes in advertising forecasts amid reduced tariff concerns. Any discussion of AMC stock would be incomplete without addressing its 'meme stock' dynamics. Take May as an example—the share price nearly doubled within a matter of days, fueled by a wave of coordinated buying from retail investors on platforms like Reddit. These kinds of explosive moves have become a defining feature of AMC's trading behavior. But the rallies are usually fleeting. Once the hype dies down, the stock often gives back its gains as the company's underlying financial challenges come back into focus—something we've likely seen play out over the past week. While AMC's meme stock status can create bursts of excitement for short-term traders, it also brings extreme volatility. That volatility distorts traditional valuation metrics and skews technical indicators, such as moving averages, making it difficult to assess the stock through a conventional investment lens. The question for AMC ultimately revolves around whether resurgent demand and operational improvements can overcome its financial constraints. Until AMC can demonstrate consistent profitability and make meaningful progress in reducing its debt burden, positive box office trends will not be enough to sustain the stock (though ongoing meme-related volatility spikes are likely). I am inclined to avoid AMC until the company can demonstrate that it can turn its box office momentum into the kind of sustained financial performance that will help it climb out of its debt crater. Disclaimer & DisclosureReport an Issue Sign in to access your portfolio
Yahoo
4 hours ago
- Yahoo
Matunuck Oyster Bar could operate outdoors this summer under new legislation
SOUTH KINGSTOWN, R.I. (WPRI) — State lawmakers are attempting to pass legislation that would allow the Matunuck Oyster Bar to open back up on a limited basis. The South Kingstown mainstay went up in flames last month and has been closed ever since. The cause of the fire has since been deemed accidental in nature. Rep. Carol Hagan McEntee and Sen. V. Susan Sosnowski introduced legislation Friday that would allow the restaurant to set up outdoor seating in the parking lot across the street, which is owned by Matunuck Oyster Bar's Perry Raso. Hagan McEntee's legislation is set to be reviewed by the House Committee on Small Business next Tuesday. Sosnowski's companion legislation will also be discussed Tuesday in the Senate Committee on Housing and Municipal Government. SEE ALSO: Rhode Islanders distraught by fire at beloved oyster bar The goal of the legislation is to keep the restaurant up and running throughout the busy summer months. The legislation would allow the restaurant to establish a mobile kitchen and serve patrons at outdoor tables. 'The award-winning Matunuck Oyster Bar is a beloved part of the South Kingstown and Rhode Island community and everyone was devastated when the fire broke out a few weeks ago,' Hagan McEntee said. 'Its success elevates the town and both locals and tourists alike have made this restaurant a true destination in Rhode Island.' 'This legislation is the least we could do to help weather the difficulties resulting from the fire, including keeping some of the restaurant's workers employed during the busy summer season,' she continued. Specifically, it amends the 'Take It Outside' law that allowed food service establishments to operate outdoors during the pandemic. The proposed change would allow restaurants to provide temporary outdoor dining service 'any time a building or other structure used as a food service establishment is rendered uninhabitable by virtue of a casualty,' such as a fire or flood. MORE: Fundraisers launched for Matunuck Oyster Bar If passed, the restaurants would be allowed to do so for 18 months 'or until the building is fit for occupancy.' The current proposal notes that the legislation would sunset and expire on June 30, 2027. 'Our community was heartbroken by the fire at Matunuck Oyster Bar, and so many people have rallied behind Perry Raso and his employees during this difficult time,' Sosnowski said. 'The fact that this happened on the cusp of the busy summer season is particularly devastating for Perry, the restaurant's workers, and our entire community.' 'As this cherished establishment works to rebuild, it's important we do everything we can to support that process and the many people who rely on the restaurant for their livelihood,' she added. 'Utilizing the successful approach of the 'Take It Outside' law is a common-sense step that will help immediately.' The proposed legislation requires municipal approval before it can be considered by lawmakers. The South Kingstown Town Council is scheduled to consider a resolution of support for it on Monday. RELATED: Matunuck Oyster Bar fire appears accidental House Speaker Joseph Shekarchi and Senate President Valarie Lawson have already expressed 'strong support' for the legislation. Shekarchi said Raso was the one who came up with this 'creative approach.' 'I pledged my strongest support to expedite this process with the House,' he said, adding that he will also work with the Senate and town to 'make this happen quickly.' Lawson stressed that she also plans on ensuring the passage of this legislation. 'While the news of the fire was truly devastating, the way Rhode Islanders have responded to support Perry and his employees has been extraordinary,' Lawson said. 'Along with our partners at the State House and in South Kingstown, we will continue working to support everyone impacted as the restaurant rebuilds.' Download the and apps to get breaking news and weather alerts. Watch or with the new . Follow us on social media: Close Thanks for signing up! Watch for us in your inbox. Subscribe Now Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
7 hours ago
- Yahoo
Musk-Trump Feud: 5 Things To Watch For
President Donald Trump, left, and Elon Musk. Credit - Alex Wroblewski and Allison Robbert—AFP via Getty Images This article is part of The D.C. Brief, TIME's politics newsletter. Sign up here to get stories like this sent to your inbox. Like so many pieces of President Donald Trump's self-created reality, the key he handed to fellow billionaire and government hater Elon Musk was oversized and appeared to be coated with gold coloration. That Potemkin moment was merely one week ago today. Indeed, last Friday, Trump held the unusual send-off party for an adviser tasked with helping him destroy the spine of the federal workforce and a patron to his rise to power. Fast forward a week, and Trump has all but declared war on his one-time ally, lobbing threats to cancel federal contracts for everything from clean-energy cars, shuttles into the heavens, and access to satellite orbits. In turn, Musk kept pushing Republicans on the Hill to reject Trump's ambitious domestic policy agenda while throwing open the doors to conspiracy theories. The back-and-forth brinksmanship captivated Washington as the week headed toward its end. Both parties seemed to understand their ownership of the news cycle, and it's entirely possible that most of this spat was as scripted as a professional-wrestling beef. 'One thing's for sure,' Musk posted on X, 'it ain't boring!' That doesn't make it any less reckless. Here are five things to watch as this story unfolds. As catty as this feud has been, it is ultimately a huge distraction from Trump's agenda. The more time spent on a personality clash between this pair of mercurial iconoclasts, the less time is being dedicated to getting Trump's pending domestic agenda across the finish line. This is, to be clear, a fight that could leave both men empty handed. Trump is heading to his country club in New Jersey for the weekend, away from the White House and the churn of that campus. That may give Trump time to cool to a simmer—or to boil over if he's left alone with his DVR, social media feeds, and cell phone that gives him a constant hum of agitation. Establishment Republicans fear the window for a once-an-administration legislative reach is closing fast. The White House set a Memorial Day deadline for House passage and just barely got there. Administration officials are now looking at a July 4 target for the Senate following suit. The sooner Trump can quiet his frustrations, the better the odds of snagging the brass ring. Once Musk suggested—without evidence—that Trump is somehow implicated in the sex-trafficking criminality tied to the late billionaire Jeffrey Epstein, there really was no telling where this goes next. The mega-rich like Musk don't exactly have a huge degree of self-awareness or self-control. Musk knows he is already under Trump's skin, and any plays to exploit Trump's insecurities don't exactly take terrible imagination. That's why this stands to go further sideways in a big way. Musk is not exactly known for keeping the savviest of political minds at his table. Unlike other deep-pocketed patrons, Musk does not have an army of consultants and so-called donor-advisers at the ready. But he does have the ear of some in Trump's inner circle, especially Donald Trump Jr. and Vice President J.D. Vance. If the White House is looking for an off-ramp, it might avail itself of those two lesser-appreciated insiders. At its core, this spat began over Musk's criticism of the deficit spending that would accompany the Trump-branded 'One Big Beautiful Bill' that preserves and expands Trump's first-term tax cuts, slices into clean-energy initiatives carried in Joe Biden's Inflation Reduction Act, and boosts spending on border and immigration policing. It's poised to add trillions to the national debt. Musk, a newly converted deficit hawk, has said he sees the red ink as an existential threat. House Republicans powered their first leg of this marathon across the line with the barest of majorities and zero margin for error. Democrats were unified in their opposition, and remain even more so now that they've had time to unpack everything in a 1,000-plus-page bill that also would limit how much courts could rein in Trump and neuter the ability of states to regulate artificial intelligence. In the Senate, things were already iffy. The White House plans to use a procedural trick that allows Senate Republicans to sidestep the typical filibuster rules and pass the legislation with a simple majority. But that's going to require keeping the parameters narrow and keeping the crayons inside the line, especially when it comes to long-term spending obligations. But Senate Republicans also plan to edit the bill text. Add in there Musk's threats of consequences for rubber stamping the House version and it's even murkier where this one goes. As soon as Musk and Trump began bashing one another in earnest on Thursday, the GOP base immediately started agitating in three big directions. In one corner were those bucking up Trump's flank. Former White House strategist Steve Bannon went so far as to suggest the feds look at Musk's immigration status, hinting that the South African-born Musk could find himself on the losing side of a deportation skirmish. In another stood Musk's defenders, who said maybe the world's richest man was onto something when it came to the criticism that sparked the fallout: that the tax cuts in the bill would balloon the nation's already terrifying pile of IOUs. Musk's following remains huge, but he does not have a natural constituency the way other political leaders enjoy. That is why he is such a potent force in electoral efforts, especially among voters who feel no one in elected office has their interests at heart. Add in there the libertarian-minded Silicon Valley set, and it's an unusual coalition that few others could muster. Finally—and this is where so many Republican lawmakers are falling in line—is the corner where there's a last-ditch hope that Trump and Musk can move on, forgetting the pettiness of the last week. The Kiss-and-Make-Up Caucus, as it's been jokingly called among Hill aides, is one with long odds, to be sure. But it's a detente that might allow both billionaires to save face while sparing lawmakers from picking sides, a fraught choice given the passions running high with low-information voters. Johnson, speaking with reporters on Friday, tried to navigate a way out of this mess without any new tinder. 'It's not personal,' Johnson told CNBC on Friday. 'I don't tell my friend Elon how … to build rockets. I wish he wouldn't argue with me on how to craft legislation and pass it.' Since Musk started busting-up the federal government in January, Hill Democrats have been in a listless tilt in search of a strategy. A few fiery speeches have not stopped Musk's march through the federal workforce. Some of the actions have been reversed, either through quiet climbdown or court-ordered pivots. But by and large, Democrats have been left on the sidelines and powerless to query Musk and his deputies, let alone stop them. That may shift now. Musk is clearly no longer a loyalist to Trump, who could still avail himself of claims of executive privilege and block Musk's cooperation with the Hill Democrats. But with Musk openly encouraging Trump's impeachment—which would be a record third time!—there are chances that this escalates in truly history-making ways. Hill Republicans have so far stuck together to protect Trump and, by extension, Musk from any real scrutiny. While much of Trump's Cabinet has bristled over Musk's over-reach into their fiefdoms, they have still dutifully shielded Musk and Co from any real oversight. Through some clever administrative trickery, the White House ensured that Musk was never technically a real federal employee, and even claimed he was never in charge of the office he was actually running. Efforts to haul him in for oversight hit a brick wall. Hill Republicans kept their frustrations buttoned-up and limited to closed-door venting. Now that Musk is untethered, the game may have changed. If the White House wanted to, it could go so far as to encourage Congress to make use of its subpoena power. While that's an unlikely outcome, Musk can no longer be assured of the safe bunker in Washington he had when this second Trump term began. Make sense of what matters in Washington. Sign up for the D.C. Brief newsletter. Write to Philip Elliott at