INDIANAPOLIS (WISH) – Here’s a look at Monday’s business headlines.
Steak ‘N’ Shake
Steak ‘N’ Shake reported its revenue plunged $59 million or 35% in the first three months of the year.
Steak ‘N’ Shake was forced to close many of its restaurants due to the lockdown.
It still offered takeout and delivery but its dining rooms, where most of its business is done, were shut down.
Kroger is negotiating with two unions that want the supermarket giant to extend its “hero bonus” for front-line workers.
Kroger told workers that the bonus of $2 per hour Kroger added March 31 will expire May 17, according to a supermarket news article. The bonus is intended to reward front-line workers who are providing essential services during the coronavirus pandemic.
In addition to the bonus pay, the unions also want Kroger to improve store safety and provide coronavirus testing for all employees.
J.C.Penney may be preparing to file for bankruptcy protection as early as next week, according to Reuters and other news outlets.
Filing for bankruptcy would close a chapter of slow decline for the department store chain, which has been in business since 1902.
Social-distancing regulations on airplanes could drastically jack up the price of tickets when air travel slowly restarts.
That’s according to the International Air Transport Association.
Flyers could see anywhere between a 43% and 54% fare increase when compared to rates last year if airlines are required to keep their middle seats empty.