Steak n Shake permanently closes 57 restaurants amid dismal first quarter
With its restaurants limited to drive-thru, takeout or delivery for much of March because of the virus outbreak, the burger chain saw quarterly revenue plummet by $59 million.
Featured
Articles
IBJ Podcast: Wedding season walloped by COVID leads to postponements, tears, pizza parties
Hundreds of thousands of couples who for months have been picking preachers, flowers, venues, bridesmaid dresses, reception menus and DJ playlists now find themselves making a heart-wrenching, no-win decision.
Pandemic wreaks havoc on massive wedding industry
The onslaught of COVID-19 cases in Indiana, just as wedding season was getting underway, has forced thousands of couples to make quick and often heart-wrenching decisions about how to proceed.
Conventions rush to reschedule, make most of 2020 events
The local tourism industry is bracing for a “very tough” end to 2020, despite efforts to reopen the state by July 4.
IU team pursuing breathtaking advancements in regenerative medicine
The emerging health care field seeks to develop methods for replacing or reinvigorating damaged human organs, cells and tissues.
Pay cuts, layoffs hit white-collar workers, too
Experts say the wave of layoffs and pay cuts that first ravaged the service industry in mid-March are starting to erode management, upper-level and even executive jobs.
Iconic downtown Gold Building would turn gray under owners’ proposed revamp
Plans call for replacing the existing curtain wall on the 20-story office building with “crystal gray” panes developed by Minnesota-based architectural glass fabricator Viracon.
Kite Realty sees 25% of tenants ask for rent deferrals in first quarter
The Indianapolis-based real estate company reported a 16% year-over-year drop in revenue during the first quarter as many tenants sought rent deferrals to weather pandemic-related business shutdowns.
Some restaurants in no rush to resume dine-in service
With capacity restricted, the smallest restaurants say it’s not feasible to reopen. Others are proceeding cautiously and changing how they’ll operate.
Developer attributes continued delays on Speedway hotel project to pandemic
Construction has been stalled on the planned 126-room hotel at the southeast corner of Main and 16th Streets since July 2019, while Indianapolis-based development firm Loftus Robinson LLC has tried to shore up financing.
EdgeRock Development proposing $18M apartment, retail complex in Westfield
There’s still some debate about whether the roughly 100-unit apartment complex with 30,000 square feet fulfills an expectation that senior apartments would be built on the property.
Gary Brackett closes Stacked Pickle sports bar chain
Stacked Pickle lists 10 locations on its website—nine in Indiana and one in Dayton.
Judge: Indianapolis not required to reveal Amazon bid proposal
The details of Indianapolis’ bid for Amazon’s second headquarters project might never be revealed after a judge ruled that the documents aren’t required to be released under Indiana’s public records law.
Shake Shack pauses expansion, putting Fishers project on back burner
Reeling from a slowdown in sales due to the coronavirus crisis, the New York City-based burger chain says it has paused all design and construction of new eateries. The Fishers location was set to open late this year.
Local firm plans five-story, all-timber office building in Broad Ripple
The $20 million project a block west of the Monon Trail would include an interior parking garage and a 2,600-square-foot rooftop deck.
Allison Transmission sees first-quarter profit, revenue decline
The Indianapolis-based manufacturer took a blow in the first quarter due to the pandemic, but still turned in results that exceeded analyst expectations.
Engineered Medical Systems sees orders for respiratory products soar 600%
The Indianapolis-based company is expanding operations and trying to hire an additional 30 assembly workers to keep up with skyrocketing orders from the COVID-19 pandemic.
Return of retail in Indy area far from business as usual
A smattering of shoppers found a mixed bag of offerings on the first day that nonessential stores were allowed to open, with many retailers remaining closed or still providing pickup-only service.
Lilly teams with Chinese biotech to develop COVID-19 antibody
The partnership marks at least the fourth program Lilly is pursuing to find treatments for COVID-19, a disease that has claimed more than 249,000 lives worldwide, including more than 68,000 in the U.S.
IBJ Podcast: The rent is due, and tenants are struggling as unemployment soars
Advocates for both low-income residents and landlords are calling for an emergency rental assistance program that would help tenants cover payments and keep revenue flowing for apartment owners.