These Restaurant Chains Are Closing Down

 Steak ‘n Shake

Steak ‘n Shake is another golden oldie that struggled even before the pandemic hit. Since 2018, the company’s sales have dropped by at least 5% every quarter forcing the management to permanently close down more than 80 stores in the same period. The situation is so bad that the current CEO is considering dropping the signature cherry on their milkshakes, believing it will save at least $1 million a year. Critics already view this as a risky move because compromising quality often never helps a struggling enterprise.