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Steak 'n Shake

Beverage

Menu news of the week: Nov. 18, 2019

A roundup of recent winter beverage items launched at chain restaurants.

Financing

Steak ‘n Shake traffic and sales keep falling

The burger chain’s revenue fell more than 26% last quarter amid temporary store closures.

Drinks that double as desserts are trending on menus.

The closures, which the chain says are temporary and will be refranchised, come as same-store sales continue to fall.

Standard and Poor’s lowered its rating on the chain’s debt, saying it has an “elevated risk for a debt restructuring.”

The burger chain, which had been closing dozens of locations, has reopened a St. Louis store under its new refranchising initiative.

A jury found the company didn’t pay proper wages to nearly 300 managers in the St. Louis market.

The chain has temporarily closed 44 locations amid ongoing sales and cost challenges.

Get Top 500 data: sales, units and YOY change, average unit volume, and company/franchise units, as well as Technomic’s analysis, growth forecast and more.

Sardar Biglari, who controls more than 50% of the company’s shares, will no longer have his salary capped at $10 million, says RB’s The Bottom Line.

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