Your Local Florida Steak N Shake Could Be Closing Permanently Soon
There are 223 locations in Florida.
The future of a popular fast-food chain is looking more-and-more like it’s on shaky ground. On Tuesday, it was announced that Steak 'n Shake is closing locations throughout the states. The chain that is known for its steakburgers and shakes is planning on permanently closing over 50 locations thanks to the coronavirus pandemic.
Biglari Holdings released its first-quarter report, which showed the fast-food chain's revenue has drastically dropped since last year.
The numbers from the report were sobering, with a loss of $59 million in sales compared to this time last year. Biglari links the staggering loss on the decrease in demand across the chain, forcing the company to make a hard choice.
“The COVID-19 pandemic had an adverse effect on our operations,” the company wrote in its report.
With 223 Steak ‘n Shake locations scattered throughout Florida, this announcement has the potential to affect the state's economy.
Some of its locations had to completely shut down, while others shortened their hours and switched to drive-thru or delivery only options.
While it isn’t known yet if Florida will be affected by the store closings, due to its large store count, it may be inevitable that some Florida locations might take a hit.
Founded in Normal, Illinois, in 1934 the chain has spread throughout the midwest and began to make its way to the South. Due to its tourism climate, Florida became one of the largest markets for the chain, but in 2019, the chain began to hit rocky waters, closing two locations in the Orlando-area, according to The Ledger.
The specific locations of these closures as yet to be announced by Steak ‘n Shake.