Steak n Shake, the iconic, 76-year-old American brand, is much older than its chairman and chief executive, Sardar Biglari. It is controlled by one man, a 33-year-old investor.
With capital still hard to come by and sales stagnating at many dining chains, a growing number of restaurant companies are reviewing the alternatives to business as usual.
If the collective sales momentum of America’s largest foodservice chains essentially stalled in their latest completed fiscal years — as chronicled in June’s Top 100 report by Nation’s Restaurant News — it should come as no surprise that their smaller rivals fared worse.