Summary
The Indianapolis-based restaurant chain found $16 million in tax savings dating back to 2006 and is working on a new, simple menu built around burgers, fries and milkshakes all part of a turnaround plan orchestrated by the chain's new CEO, Sardar Biglari. In his letter, Biglari announced Steak n Shake's hiring of Dennis Roberts, the former chief operating officer at Massachusetts-based Friendly's Ice Cream, to head efforts to improve efficiency in the chain's restaurants.
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Extract
New Ceo Orders Up Cost Cuts
The Steak n Shake Co. has dropped plans to build 20 new restaurants, is cutting overhead expenses by about $20 million, and closed 14 locations.
The Indianapolis-based restaurant chain found $16 million in tax savings da...See the full content of this document
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