Steak 'n Shake

By Jonathan Maze on Feb. 29, 2024

The Bottom Line: Sardar Biglari, chairman of the chain’s owner Biglari Holdings, details how the addition of kiosks and counter service has transformed restaurants.

Financing

Steak n Shake's sales and profit improve, but stores keep closing

By Jonathan Maze on Aug. 07, 2023

While the brand has been selling stores to operating partners, traditional franchisees keep closing units. So does the company.

Financing

Steak n Shake closed another 30 restaurants last year

By Jonathan Maze on Feb. 27, 2023

The burger chain, which has shifted to a counter-service model with kiosks, turned a profit last year. But it did so from fewer locations as traditional franchisees closed restaurants.

Premium

Financing

Sardar Biglari takes a stake in Jack in the Box

By Jonathan Maze on Feb. 27, 2023

The chairman of Biglari Holdings, the owner of Steak n Shake, has acquired 5.5% of the shares in the fast-food chain operator. But the investment is passive, for now.

Premium

Financing

Sardar Biglari buys another oil company

By Jonathan Maze on Sep. 28, 2022

The Bottom Line: Biglari Holdings, which owns Steak n Shake and other holdings, spent $80 million to acquire a majority of shares in Abraxas Petroleum Corp.

Premium

Leadership

Sardar Biglari makes more changes to his incentive agreement

By Jonathan Maze on Apr. 15, 2022

The Bottom Line: Biglari Holdings, the owner of Steak n Shake, defends a services agreement with its chairman’s investment fund and commits to making up prior investment losses.

Financing

Steak n Shake turns a profit and its CEO compares himself to Michelangelo

By Jonathan Maze on Feb. 28, 2022

The burger chain generated a profit for the first time in four years last year thanks to its move to counter service, eliciting Sardar Biglari’s comparison to the Italian sculptor.

Financing