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By Alexander Gladstone and Aisha Al-Muslim Steak n Shake Inc. is preparing for a possible financial restructuring and has hired an advisory firm to evaluate options as the Covid-19 pandemic continues to hit the casual-dining sector hard, according to people familiar with the matter. The Indianapolis-based burger-and-milkshake chain hired FTI Consulting Inc. to advise on a restructuring strategy, the people said. Steak n Shake, owned by entrepreneur Sardar Biglari s eponymous holding company, has struggled with restrictions on indoor dining and has a $153 million loan coming due in March, they said. Steak n Shake, Biglari Holdings Inc., and FTI didn t immediately respond to requests for comment. Biglari Holdings said in a November securities filing that Steak n Shake may not be able to refinance its loan before the March maturity.
New senior VP joined bank in ’05
Curt Baker
The leaders of Wilson Bank & Trust have promoted longtime lender Curt Baker to senior vice president and named him leader of their home market in Lebanon.
In his new role, Baker will oversee the seven branches Wilson Bank & Trust runs in Lebanon and Watertown and continue to manage his commercial portfolio. Baker began working on the bank, which runs 28 offices in nine area counties, in 2005 and had been a vice president of lending.
“Curt has been an incredible asset to the bank over the years,” President John Foster said. “He has consistently stepped up in any role he has been given and continues to build upon his experience and contribute to the growth of the bank.”