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Steak ‘n Shake has avoided a bankruptcy filing after the company repaid its loan on Friday...

Steak ‘n Shake avoids bankruptcy and sues its lender – Restaurant Business Online

Steak ‘n Shake has avoided a bankruptcy filing after the company repaid its loan on Friday—just weeks before it was due.It then turned around and sued its lender—accusing Fortress Investment Group of maneuvering to take over the company by purchasing the chain’s loans on the secondary market and then threatening to force the chain into bankruptcy. The payoff, and the lawsuit, represented an extraordinary turn of events for a burger chain that has operated for much of the past year …

 

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