UPDATE 1-Steak n Shake says not to focus on sale of company

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Feb 21 (Reuters) - Steak n Shake (SNS.N: Quote, Profile, Research) said it will not focus on selling the company as it was not satisfied with any of the offers received due to unfavorable trends in the casual dining segment of the restaurant industry and volatility in the financial markets.

The casual dining restaurant chain, known for its Steakburger brand of sandwiches, would instead concentrate pursuing a turnaround and improving unit economics, it said.

The company has been promoting Steakburger, a U.S. beef patty served on a toasted bun sandwich, since February and is trying to drive incremental guest traffic.

Steak n Shake also plans to hire a permanent chief executive officer.

The company continues to receive inquiries from interested parties, it said.

Steak n Shake shares closed down 6.23 percent at $8.28 Thursday on the New York Stock Exchange. (Reporting by John Tilak in Bangalore; Editing by Jarshad Kakkrakandy)