OPINIONFinancing

A brief history of Sardar Biglari’s decade-long campaign against Cracker Barrel

The Bottom Line: The activist investor and owner of Steak n Shake has tried several times to get on the family-dining chain’s board, with no success. It’s not stopping him from trying again.

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Operations

Hitting resistance elsewhere, ghost kitchens and virtual concepts find a happy home in family dining

Reality Check: Old-guard chains are finding the alternative operations to be persistently effective side hustles.

Financing

The Tijuana Flats bankruptcy highlights the dangers of menu miscues

The Bottom Line: The fast-casual chain’s problems following new menu debuts in 2021 and 2022 show that adding new items isn’t always the right idea.

Financing

For Papa Johns, the CEO departure came at the wrong time

The Bottom Line: The pizza chain worked to convince franchisees to buy into a massive marketing shift. And then the brand’s CEO left.