Mr. Steak was an American
steakhouse
A steakhouse, steak house, or chophouse is a restaurant that specializes in steaks and chops. Modern steakhouses may also carry other cuts of meat including poultry, roast prime rib, and veal, as well as fish and other seafood.
History
Choph ...
restaurant chain started in 1962 by James A. Mather in
Colorado Springs, Colorado
Colorado Springs is the most populous city in El Paso County, Colorado, United States, and its county seat. The city had a population of 478,961 at the 2020 United States census, 2020 census, a 15.02% increase since 2010 United States Census, 2 ...
. At its peak, the chain operated 278 restaurants throughout the United States.
The chain saw a decline in the 1980s when it attempted to diversify its menu options, drawing focus away from the steak in favor of fish, salads, and chicken.
History
In June 1981, Richard S. Jackson replaced James C. Shearon as president and chief operating officer of the Denver-based Mr. Steak Inc. while James A. Mather continued as chairman and chief executive officer. At the time of the announcement, there were 258 Mr. Steak restaurants, most of them franchised.
Jackson was later replaced as president and chief operating officer by Michael T. Fuller in September 1984.
After acquiring nearly $2 million in debts, Littleton-based Jamco Ltd., the parent firm of the Mr. Steak restaurant chain, filed for Chapter 11 reorganization under the U.S. Bankruptcy Code. At the time of the filing, Randall Pike had replaced Mathers as chairman and CEO and the company had 122 franchise Mr. Steak restaurants and the 25 company-owned operations in 36 states and Canada.
The company incurred an enormous debt by "co-signed leases with a lot of franchise operators that didn't make it."
In April 1992, a Denver investment company called Omnivest International purchased the remaining assets of Jamco from the Denver bankruptcy court for $140,000 and assuming liabilities of about $260,000, which included 57 Mr. Steak restaurants in 23 states, all of which were franchised.
In 1993, Omnivest attempted to revitalize the brand by introducing the more upscale "Mr. Steak's Firegrill" concept.
Locations in central and western
Michigan
Michigan ( ) is a peninsular U.S. state, state in the Great Lakes region, Great Lakes region of the Upper Midwest, Upper Midwestern United States. It shares water and land boundaries with Minnesota to the northwest, Wisconsin to the west, ...
were converted in 1991 to a new chain called Finley's, which retained most of the Mr. Steak menu following the chain's early-1990s demise.
The final Mr. Steak closed in 2009 in
St. Charles, Missouri
Saint Charles (commonly abbreviated St. Charles) is a city in, and the county seat of, St. Charles County, Missouri, United States. The population was 70,493 at the 2020 United States census, 2020 census, making St. Charles the List of cities in ...
. The building was razed in July 2022.
See also
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Steak burger
A hamburger (or simply a burger) consists of fillings—usually a patty of ground meat, typically beef—placed inside a sliced bun or bread roll. The patties are often served with cheese, lettuce, tomato, onion, pickles, bacon, or chilis wi ...
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References
External links
Mr. Steak TV Commercials
Additional Mr. Steak TV Commercials
{{DEFAULTSORT:Mister Steak
Companies based in Colorado
Restaurants in Colorado
Defunct restaurant chains in the United States
Restaurants established in 1962
Steakhouses in the United States
Restaurants disestablished in 2009
1962 establishments in Colorado
2009 disestablishments in Missouri
Companies that have filed for Chapter 11 bankruptcy
Companies that filed for Chapter 11 bankruptcy in 1987