Texas investor enlists former Steak n Shake exec in quest to revive chain

Two executives with longtime ties to The Steak n Shake Co. have joined a dissident Texas investor in his quest to overhaul the Indianapolis-based restaurant chain. Shareholders who have agreed to work with Sardar Biglari include a former board member the company once described as a "modern-day founder" of the restaurant chain, along with a former partner in Kelley & Partners Ltd., the investment firm led by company patriarch E.W. Kelley before his 2003 death.

 

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