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.
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Restaurants in most of Indiana have OK to reopen dining rooms
In addition, personal services such as hair salons, barber shops, nail salons, spas and tattoo parlors are allowed to open in 89 of 92 counties Monday—by appointment only.
Memory Bank: Finding a deal in 1955 as Charles Mayor and Co. is liquidated
This photo, taken Jan. 18, 1955, depicts the liquidation sale at the Washington Street building, which was torn down in 1959.
Gary Brackett closes Stacked Pickle sports bar chain
Stacked Pickle lists 10 locations on its website—nine in Indiana and one in Dayton.
Goodwill reopening stores where possible, but closing Vintage Vogue locations for good
Goodwill of Central & Southern Indiana, which has begun reopening many of its 76 retail locations where possible, is cutting costs by eliminating its three Vintage Vogue stores.
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.
Reopened shopping centers getting off to slow start
Indianapolis-based Simon Property Group, the nation’s largest mall operator, reopened several dozen shopping centers across Texas, Georgia and roughly 10 other states from Friday to Monday.
Fishers brewpub joins surge in eateries permanently closing doors
The locally owned eatery and craft brewery opened in late 2014 in the former location of Blue Crew Sports Grill.
Fashion retailer J. Crew files for bankruptcy protection
Even before COVID-19 spread, the company was struggling because shoppers were defecting to online merchants and consumer tastes were changing.
Retailers outside Marion County have green light to reopen
The reopening of shops—at no more than 50% of capacity—is part of Gov. Eric Holcomb’s plan to gradually relax social distancing rules over the next nine weeks.
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.
North-side steakhouse closes permanently, citing ‘impending expiration’ of lease
The owner of the upscale eatery in the Keystone at the Crossing area made no mention of the coronavirus crisis in its announcement Friday, but in April it notified state officials that it had drastically cut the hours of 46 employees due to restrictions on dining.
Companies must create customer, employee safety plans as part of reopening
The state is launching a marketplace for small businesses to help them acquire the face masks, sanitizer and other supplies they might need to reopen.
Steak n Shake outlook goes from bad to much worse
Rating agencies, which already ranked Steak n Shake on the lowest rungs of their creditworthiness ladders, further sounded the alarm bells in recent weeks after Steak n Shake paid off some of its debt at a discount—something a lender never would agree to if it thought it was going to be paid in full.
Moratorium to protect tenants from eviction—for now
Advocates agree that the federal and state moratoriums are helpful, but say renters will need more help long term. Even one missed rent payment can put low-income residents so far behind they can’t recover.
Simon says it won’t defy state-at-home orders in reopening malls, calls speculation it might ‘very offensive’
A company official said it’s “preposterous” to think the company would reopen its malls, especially those in its home state, while stay-at-home orders are still in place.
Broad Ripple’s Brugge restaurant closes permanently
Co-owner Ted Miller said on Facebook that the restaurant at 1011 E. Westfield Blvd. would close as of Friday—“this location at least. We plan to open a new Brugge somewhere, sometime.”
Self-storage firm installing solar panels at some local sites
Utah-based Extra Space Storage, the nation’s second-largest self-storage operator, plans to add the solar panels to five Indianapolis sites this year, and additional sites after that.
Simon poised to reopen Indiana malls on Saturday
The 49 Simon Property Group shopping centers that CNBC says are slated to reopen by Monday represent about one-quarter of the company’s U.S. properties.