Steak n Shake Temporary Closings Continue- Indianapolis Bankruptcy News
As sales decrease at Steak n Shake locations throughout the United States, the closing of multiple locations has begun in Indianapolis. The corporation who owns the corporate side to Steak n Shake is located in San Antonio, Texas. This company, called Biglari Holdings, Inc, has stated that these closings are only temporary.
Temporary Closings Making Way For Franchise Agreements
Steak n Shake locations are usually owned and operated by their corporate office. The company is now marketing a new franchising system where owner-operators can take over individual locations. These franchise opportunities are designed to create meaner, leaner operations where owner-operators can take pride in operating (and possibly also save) their individual locations. The corporate office wants to transition into a franchising system which it hopes will eventually generate good profit and make its own operations much more simple. The corporate office is stating that these Indianapolis closings are only temporary. These closings are part of the transition between corporate to franchise-style operations.
Indianapolis Steak n Shakes that Have Closed
Biglari Holdings has closed at least four Indianapolis locations. The closed locations are on the Northeast and West side of Indianapolis only. These temporarily closed locations are at the following addresses:
- West Closings: 3810 West Washington Street, 5635 West 38th Street – Indianapolis
- Northeast Closings: 5827 East 71st Street, 4105 East 96th Street
Remember, these closings are currently slated to be “temporary.” If a franchise agreement can be made for each location, it is possible that these locations could soon reopen.
Is Steak n Shake Bankruptcy Possible?
Even though Steak n Shake has been taking hits in comparison to its robust past, there is currently no indication that bankruptcy filings are expected or imminent. Steak n Shake’s corporate office has been taking serious steps to rectify many of the location’s poor earning records. This new franchising model could cause a major shift in operations that could also prevent future losses. Although Steak n Shake may have to close some locations and revamp operations, it appears too early to tell how the brand will fair after many of these much-needed changes are put into action.
