Report: Steak n Shake hires adviser to help it navigate debt morass

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10 thoughts on “Report: Steak n Shake hires adviser to help it navigate debt morass

  1. The Biglari takeover has done no favors for the brand and been a financial debacle for franchisees. Only winner has been Biglari, who have bled it dry.

    1. And the crazy part is, you cannot get a “meal deal” for $4 at any other burger chain. My last trip to Hardees with a friend cost $17. A Quarter Pounder or Whopper or Big Roast Beef meal from other fast food places will cost you $7-8 (without table service)…people will pay good money for good food, and extra for table service.

  2. I hate to see steak n shake go but poor management and lack of new ideas on how to serve customers more efficiently will certainly lead to their demise. Covid has been a big part of this as the chain hasn’t allowed in house dining for quite some time and is attempting to operate through a drive through only model. One would think if they were going to do that they would make an effort to revamp their drive through and figure out how to serve more customers and in a quicker fashion. Someone from steak n shake needs to go sit outside a Chick fil A for a day or two and watch them serve a billion chicken sandwiches an hour out their drive through. It’s not that hard, they have good food, reasonable pricing you just can’t suck!

  3. It shouldn’t take a rocket scientist to figure out how to turn things around. Focus on the sit-down model, retrain staff, ensure the quality of food, and run a public marketing campaign.

  4. Ryan, Grant – all good ideas, but that would require Biglari to not think he’s the smartest person in the room. The issue is the CEO and until he turns the chain over to someone else, they’re sunk.

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