Steak N' Shake Closing 51 Locations

SAN ANTONIO, TX — Steak N' Shake will close at least 51 locations due to losses suffered during the new coronavirus pandemic. The restaurant's parent company said COVID-19 directly caused the closures.

It is not yet clear which restaurants will be shuttered. There are 553 Steak N' Shaker restaurant nationwide, including one at 1817 Montgomery Highway.

"The COVID-19 pandemic had an adverse effect on our restaurant operations, thereby resulting in the evaluation of company operated restaurants for recoverability," Bilgari Holdings, the parent company of Steak N' Shake, said in an earning report.

According to Bilgari Holdings first quarter earnings report, net sales and franchise royalties were both down, year over year.

Steak N' Shake's first restaurant opened in 1934 in Illinois. The brand now has locations throughout the nation.