Indianapolis burger chain, Steak n Shake, has announced that it has closed 106 restaurant locations since the beginning of 2019 with 67 of these closures occurring in the second quarter. The announcement was made during Biglari Holdings Inc.’s (BH), the parent company of Steak n Shake, Q2 earnings call.
The decision to close the restaurant was made as Steak n Shake faces reducing customer traffic at its locations, which have fallen to 307 locations by the second quarter of the year, the Indianapolis Business Journal reported. The company said that 103 of the closures are “temporary” as the restaurant chain has plans to reopen the locations under a new “franchise partnership” program, according to the news outlet. . . . more