Comment on Steak ‘n Shake parent makes first buys in years as chain’s performance goes from ‘bad to worse’

Steak ‘n Shake parent makes first buys in years as chain’s performance goes from ‘bad to worse’

As Steak ‘n Shake closes restaurants across the country, the founder of its San Antonio-based parent company has reported “dismal” financial performance last year due to significant losses from the burger chain. The holding company, Biglari Holdings, Inc. (NYSE: BH), acquired Southern Oil of Louisiana, Inc. in September for $51.5 million and is waiting on regulatory approval to acquire Arkansas-based Southern Pioneer Property & Casualty Insurance Co. in response to Steak ‘n Shake’s decline.…

 

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