In addition, the company sold one location to a franchisee and 10 stores to operating partners.
The burger chain closed down 51 of its company-owned restaurants and six franchised outposts during the first quarter of 2020, according to aIn addition, the company sold one location to a franchisee and 10 stores to operating partners, the report said. As of March 31, the company now operates 306 Steak n' Shake restaurants — down from 368 at the end of 2019.
According to Biglari Holdings, which also owns steakhouse chain Western Sizzlin’, its restaurants lost $7.9 million during the first quarter.
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