The company said it took a $1.4 million loss in the third quarter from discontinuing operations in its standalone take-and-bake restaurant operations. It plans to focus on a new restaurant concept that will debut in January.
Burn By Rocky Patel has agreed to take 5,500 square feet at the corner of Meridian and Maryland streets as mall operator Simon Property Group continues to fill spaces left by the departure of Nordstrom.
It took nearly two years to finalize design and financing for the first phase of Midtown, but its developer predicts that other components will fall into place quickly now that construction has started.
Sales at established Steak n Shake restaurants rose slightly in the latest quarter following disappointing results last period that snapped a streak of 29 consecutive quarterly increases dating to 2009.