The troubled economic situation has claimed yet another casualty. Steak n Shake, a diner-style restaurant chain located throughout the Midwestern and Southern United States, is in trouble. Shares have hit a 52-week low, and brand spankin’ new chairman, Sardar Biglari, is cutting vendors and answering to shareholders.
Advertising agency, Young & Laramore, has been cut from the budget rolls. The 66 person advertising agency in Indianapolis has been handling the creative on Steak n Shake for 18 years. Eighteen years! Agencies wish they could hold a client down like that. Kudos to Y&L.
President of Y &L, Tom Denari, said it would be a blow to the agency, as Steak n Shake was in the top of the shop’s roster along with the Goodwill. Yet, Denari is saying that while adjustments will be made, lay-offs are in no way imminent.
“It’s common when new leaders take over that this kind of event would take place,” Denari added. “It happens pretty frequently in the (advertising) business. The fact that we had such a long relationship is pretty unique in the industry. And I think a lot of it was based on the success of the work we did over the years.”
Ain’t that the truth. We wish Denari and his team the best.
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