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.
Evolent Health Announces Cooperation Agreement With Engaged Capital
Appoints New Independent Director Craig Barbarosh to the Board
Board to Form a Strategy Committee Focused on Value Creation Initiatives
Company to Seek Stockholder Approval to Declassify Board at 2021 Annual Meeting
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WASHINGTON, Dec. 22, 2020 /PRNewswire/ Evolent Health, Inc. (NYSE: EVH) (the Company or Evolent ), a health care company that delivers proven clinical and administrative solutions to payers and providers, today announced that it has entered into a Cooperation Agreement with Engaged Capital, LLC ( Engaged Capital ), pursuant to which Craig Barbarosh has been appointed to Evolent s Board of Directors as a Class III director.
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