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Popular Burger Chain 'Shakes' Chapter 11 Bankruptcy: What Investors Should Know

Liz Brumer-Smith, The Motley Fool
·2 min read
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Like many other restaurants right now, Steak n' Shake (NYSE: BH) is struggling to stay afloat as the coronavirus pandemic continues to "shake" the food and beverage industry. The company, which was already on rocky ground before the start of COVID-19, was on the verge of filing Chapter 11 bankruptcy at the start of 2021, having $220 million in debt due March 19, 2021. Steak n' Shake had been in negotiations with its debtors for some time as it prepared for the possibility of Chapter 11 bankruptcy.