Steak 'n Shake

Steak ‘n Shake’s owner compares himself to Andrew Carnegie

Biglari Holdings CEO reportedly compares himself to 19th century industrialists and talks about the pandemic’s impact on his burger chain, says RB’s The Bottom Line.

Financing

Steak ‘n Shake has permanently closed 51 locations

The burger chain, which faces challenges refinancing its debt, has also temporarily closed 62 locations.

Food

Drive-thrus continue to launch LTOs

By Patricia Cobe on Apr. 21, 2020

While full-service and fast-casual concepts focus on takeout and delivery meals, drive-thrus are trying to lure customers with new items.

Financing

Steak ‘n Shake gets credit downgrades after a ‘distressed’ debt repurchase

By Jonathan Maze on Apr. 16, 2020

The company is apparently looking to restructure its loans amid operating challenges from the coronavirus shutdown.

Financing

Restaurant bankruptcies are increasing, and more could be on the way

By Jonathan Maze on Mar. 04, 2020

A Fitch Ratings report says Steak ‘n Shake and Checkers are at risk in a worsening operating environment, says RB’s The Bottom Line.

Financing

Steak ‘n Shake turns to counter service as losses mount

By Jonathan Maze on Feb. 24, 2020

The chain has closed 107 units, with plans to reopen them with a counter-service model to save on labor.

Financing

Cracker Barrel has made Sardar Biglari a lot of money

By Jonathan Maze on Feb. 24, 2020

RB’s The Bottom Line looks at how much Biglari Holdings has made since its 2011 investment in the family dining chain.

Financing

Why struggling chains turn to franchising

By Jonathan Maze on Jan. 22, 2020

As chains such as Steak ‘n Shake and Krystal faced mounting financial problems, they looked to refranchising as a solution, says RB’s The Bottom Line.

Beverage