Steak 'n Shake permanently closing 57 restaurants amid coronavirus pandemic

Steak 'n Shake's parent company is closing 57 restaurants after the company took a financial hit because of the coronavirus pandemic.

Biglari Holdings Inc. said in its first-quarter report that it will close 51 company-owned stores and six franchises after net sales dropped 37%, or $61 million, compared with 2019.

"The COVID-19 pandemic has adversely affected our operations and financial results," Biglari said in its report.

The company blamed losses on the closing of dining rooms because of the pandemic. Takeout, drive-thru and delivery remained open at most locations, but Biglari said the pandemic could disrupt the supply chain after the dining rooms reopen.

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"Moreover, we cannot predict how the outbreak of COVID-19 will alter the future demand of our products," the company said in the report.

After the closings, Steak 'n Shake will have 553 restaurants across the country, compared with 624 in the first quarter of 2019, according to the report.

It was not clear which restaurants are closing or have closed because the report did not list the closing locations. IndyStar, which is part of the USA TODAY Network, has requested additional information.

Contact IndyStar reporter Vic Ryckaert at 317-444-2701 or vic.ryckaert@indystar.com. Follow him on Twitter: @VicRyc.

This article originally appeared on Indianapolis Star: Steak 'n Shake restaurant closings: 57 closing amid COVID-19 pandemic