Shake Shack to shut 6 California locations, including 5 in LA, after state's $20 minimum wage hike

Shake Shack will shutter six underperforming California locations — the latest fast food chain to close restaurants after the state enacted its controversial $20 minimum wage. The burger chain, which will close nine Shake Shacks overall, said the move was a result of a periodic evaluation of its portfolio of company-operated units, according to a filing with the Securities and Exchange Commission on Tuesday.“These Shacks are not projected to provide acceptable returns in the foreseeable future,” the filing ...