Biglari trying for Cracker Barrel board seat again

Minority shareholder Biglari trying again to get a seat on Cracker Barrel's board

Associated Press

LEBANON, Tenn. (AP) -- Shareholder Sardar Biglari is again trying to get a seat on Cracker Barrel Old Country Store Inc.'s board.

Biglari, who holds a 19.9 percent stake in the restaurant chain, has tried to obtain a seat on the board over the past two years but he's yet to be voted in by shareholders.

An affiliate of Bilgari Holdings Inc. — The Lion Fund LL LP — nominated Biglari and restaurant owner Philip Cooley for board seats. Bigalari Holdings also runs the Steak n Shake and Western Sizzlin restaurant chains.

Cracker Barrel said Monday that it will make a recommendation to shareholders "in due course."

The Lebanon, Tenn. company runs 624 company-owned restaurants in 42 states.

The stock climbed 24 cents to $100.48 in morning trading.

Rates

View Comments (1)