Steak 'n Shake to close 57 locations due to coronavirus pandemic
Steak 'n Shake chain restaurant in Middletown, DE, on July 26, 2019. (Photo by JIM WATSON / AFP) (Photo credit should read JIM WATSON/AFP via Getty Images)
ORLANDO, Fla. - Steak 'n Shake has permanently closed 57 of its locations due to the economic impact caused by the COVID-19 outbreak.
A financial report released by the burger chain's parent company, Biglari Holdings, stated that 51 company-owned restaurants closed down and 6 franchised locations.
"The COVID-19 pandemic has adversely affected our operations and financial results," the company said in its report. "However, the COVID-19 pandemic could cause disruptions to our supply chain. Moreover, we cannot predict how the outbreak of COVID-19 will alter the future demand of our products."
The report did not list which locations were affected.
Steak 'n Shake was suffering financially before the pandemic. Last year, the chain closed more than 100 locations.
The concept was founded in 1934 in Normal, IL.
Steak 'n Shake is not the only well-known restaurant to announce closures.
On Saturday, Sweet Tomatoes confirmed it would be keeping the doors to its 97 locations shut permanently.