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Steak 'n Shake

Financing

Why Steak ‘n Shake’s service model change is a big risk

The company is selling real estate to fund a shift to a counter-service model. RB’s The Bottom Line examines why the company is taking this step.

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.

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

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

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

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

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

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

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.

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