Steak ‘n Shake to close 57 stores, citing financial losses due to coronavirus
SAN ANTONIO, Tex. (UPI) -- Steak 'n Shake's parent company announced Tuesday that it will close 57 stores following financial losses it attributed to the COVID-19 pandemic. In its first-quarter earnings report, Biglari Holdings Inc. said it will close 51 Steak 'n Shake restaurants it owns as well as six franchises after net sales fell 37 percent, or $61 million, in comparison to the same time in 2019. "The COVID-19 pandemic had an adverse effect on our restaurant operations, thereby […]
