Whether you liked the All You Can Eat pancakes in the mornings or the massive 7×7 steakburger at 2am… it may all go away, and soon. If you’ve been paying attention, at least 5 Indianapolis locations suddenly closed. The company explained that those locations were preparing for franchisee ownership. There may be more to it though. According to IBJ,
“The outlook is that bad for Steak n Shake, which in the first quarter racked up an $18.9 million operating loss. That’s on top of a $10.7 million loss for all of 2018.”
To add to it’s financial issues, customer traffic has taken a hit and the chain is now dealing with more internal issues with staff. A judge recently ordered that the chain pay almost $8 million in overtime pay after hundred of managers came forward after they worked 50-70 hours a week without proper compensation. Perhaps you’ve called a Steak N Shake to speak with a manager only to hear that they are busy manning the grill — Delish says the managers were also asked to go outside of their managerial duties.
Get your milkshakes while you can because the future for this burger chain is looking grim.
