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    Amendment: SEC Form SC 13D/A filed by Cracker Barrel Old Country Store Inc

    10/8/24 8:55:20 AM ET
    $CBRL
    Restaurants
    Consumer Discretionary
    Get the next $CBRL alert in real time by email
    SC 13D/A 1 e6663941_sc13da-biglari.htm AMENDMENT NO. 56 TO THE SCHEDULE 13D

     

    UNITED STATES

    SECURITIES AND EXCHANGE COMMISSION

    Washington, D.C. 20549

     

    SCHEDULE 13D

    (Rule 13d-101)

     

    INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT

    TO § 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO

    § 240.13d-2(a)

     

    (Amendment No. 56)*

     

    CRACKER BARREL OLD COUNTRY STORE, INC.

    (Name of Issuer)

     

    Common Stock, par value $0.01 per share

    (Title of Class of Securities)

      

    22410J106

    (CUSIP Number)

     

    Sardar Biglari

    Biglari Capital Corp.

    19100 Ridgewood Pkwy, Suite 1200

    San Antonio, Texas 78259

    (210) 344-3400

     

    with copies to:

     

    Steve Wolosky, Esq.

    Olshan Frome Wolosky LLP

    1325 Avenue of the Americas

    New York, New York 10019

    (212) 451-2300

    (Name, Address and Telephone Number of Person Authorized to

    Receive Notices and Communications)

     

    October 8, 2024

    (Date of Event Which Requires Filing of this Statement)

     

    If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box ☐.

     

    Note:  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See § 240.13d-7 for other parties to whom copies are to be sent.

     

     

     

    *       The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

     

    The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes)

      

     

    CUSIP No. 22410J106

      1   NAME OF REPORTING PERSON  
             
           

    The Lion Fund II, L.P.

     
      2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐
            (b) ☐
               
      3   SEC USE ONLY    
               
               
      4   SOURCE OF FUNDS  
             
           

    AF

     
      5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)     ☐
           
               
      6   CITIZENSHIP OR PLACE OF ORGANIZATION  
             
           

    Delaware

     
    NUMBER OF   7   SOLE VOTING POWER  
    SHARES          
    BENEFICIALLY        

    2,000,000

     
    OWNED BY   8   SHARED VOTING POWER  
    EACH          
    REPORTING        

    -0-

     
    PERSON WITH   9   SOLE DISPOSITIVE POWER  
             
             

    2,000,000

     
        10   SHARED DISPOSITIVE POWER  
               
              -0-  
      11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
             
           

    2,000,000

     
      12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
           
               
      13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
             
           

    9.0%

     
      14   TYPE OF REPORTING PERSON  
             
           

    PN

     

      

     2

    CUSIP No. 22410J106

      1   NAME OF REPORTING PERSON  
             
           

    Biglari Capital Corp.

     
      2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐
            (b) ☐
               
      3   SEC USE ONLY    
               
               
      4   SOURCE OF FUNDS  
             
           

    AF

     
      5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)     ☐
           
               
      6   CITIZENSHIP OR PLACE OF ORGANIZATION  
             
           

    Texas

     
    NUMBER OF   7   SOLE VOTING POWER  
    SHARES          
    BENEFICIALLY        

    2,000,000

     
    OWNED BY   8   SHARED VOTING POWER  
    EACH          
    REPORTING        

    -0-

     
    PERSON WITH   9   SOLE DISPOSITIVE POWER  
             
             

    2,000,000

     
        10   SHARED DISPOSITIVE POWER  
               
              -0-  
      11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
             
           

    2,000,000

     
      12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
           
               
      13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
             
           

    9.0%

     
      14   TYPE OF REPORTING PERSON  
             
           

    OO

     

      

     3

    CUSIP No. 22410J106

      1   NAME OF REPORTING PERSON  
             
           

    First Guard Insurance Company

     
      2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐
            (b) ☐
               
      3   SEC USE ONLY    
               
               
      4   SOURCE OF FUNDS  
             
            WC  
      5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)     ☐
           
               
      6   CITIZENSHIP OR PLACE OF ORGANIZATION  
             
           

    Arizona

     
    NUMBER OF   7   SOLE VOTING POWER  
    SHARES          
    BENEFICIALLY        

    62,300

     
    OWNED BY   8   SHARED VOTING POWER  
    EACH          
    REPORTING        

    -0-

     
    PERSON WITH   9   SOLE DISPOSITIVE POWER  
             
             

    62,300

     
        10   SHARED DISPOSITIVE POWER  
               
              -0-  
      11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
             
           

    62,300

     
      12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
           
               
      13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
             
           

    Less than 1%

     
      14   TYPE OF REPORTING PERSON  
             
           

    IC

     

     

     4

    CUSIP No. 22410J106

      1   NAME OF REPORTING PERSON  
             
           

    Southern Pioneer Property and Casualty Insurance Company

     
      2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐
            (b) ☐
               
      3   SEC USE ONLY    
               
               
      4   SOURCE OF FUNDS  
             
            WC  
      5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)     ☐
           
               
      6   CITIZENSHIP OR PLACE OF ORGANIZATION  
             
           

    Arkansas

     
    NUMBER OF   7   SOLE VOTING POWER  
    SHARES          
    BENEFICIALLY        

    6,841

     
    OWNED BY   8   SHARED VOTING POWER  
    EACH          
    REPORTING        

    -0-

     
    PERSON WITH   9   SOLE DISPOSITIVE POWER  
             
              6,841  
        10   SHARED DISPOSITIVE POWER  
               
             

    -0-

     
      11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
             
           

    6,841

     
      12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
           
               
      13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
             
           

    Less than 1%

     
      14   TYPE OF REPORTING PERSON  
             
           

    IC

     

     

     5

    CUSIP No. 22410J106

      1   NAME OF REPORTING PERSON  
             
           

    Biglari Reinsurance Ltd.

     
      2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐
            (b) ☐
               
      3   SEC USE ONLY    
               
               
      4   SOURCE OF FUNDS  
             
           

    OO

     
      5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)     ☐
           
               
      6   CITIZENSHIP OR PLACE OF ORGANIZATION  
             
           

    Bermuda

     
    NUMBER OF   7   SOLE VOTING POWER  
    SHARES          
    BENEFICIALLY         69,141  
    OWNED BY   8   SHARED VOTING POWER  
    EACH          
    REPORTING        

    -0-

     
    PERSON WITH   9   SOLE DISPOSITIVE POWER  
             
              69,141  
        10   SHARED DISPOSITIVE POWER  
               
             

    -0-

     
      11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
             
           

    69,141

     
      12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
           
               
      13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
             
           

    Less than 1%

     
      14   TYPE OF REPORTING PERSON  
             
           

    CO

     

     

     6

    CUSIP No. 22410J106

      1   NAME OF REPORTING PERSON  
             
           

    Biglari Insurance Group Inc.

     
      2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐
            (b) ☐
               
      3   SEC USE ONLY    
               
               
      4   SOURCE OF FUNDS  
             
           

    OO

     
      5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)     ☐
           
               
      6   CITIZENSHIP OR PLACE OF ORGANIZATION  
             
           

    Delaware

     
    NUMBER OF   7   SOLE VOTING POWER  
    SHARES          
    BENEFICIALLY        

    69,141

     
    OWNED BY   8   SHARED VOTING POWER  
    EACH          
    REPORTING        

    -0-

     
    PERSON WITH   9   SOLE DISPOSITIVE POWER  
             
             

    69,141

     
        10   SHARED DISPOSITIVE POWER  
               
              -0-  
      11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
             
            69,141  
      12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
           
               
      13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
             
           

    Less than 1%

     
      14   TYPE OF REPORTING PERSON  
             
           

    CO

     

     

     7

    CUSIP No. 22410J106

      1   NAME OF REPORTING PERSON  
             
           

    Biglari Holdings Inc.

     
      2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐
            (b) ☐
               
      3   SEC USE ONLY    
               
               
      4   SOURCE OF FUNDS  
             
           

    OO

     
      5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)     ☐
           
               
      6   CITIZENSHIP OR PLACE OF ORGANIZATION  
             
           

    Indiana

     
    NUMBER OF   7   SOLE VOTING POWER  
    SHARES          
    BENEFICIALLY        

    69,141

     
    OWNED BY   8   SHARED VOTING POWER  
    EACH          
    REPORTING        

    -0-

     
    PERSON WITH   9   SOLE DISPOSITIVE POWER  
             
             

    69,141

     
        10   SHARED DISPOSITIVE POWER  
               
              -0-  
      11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
             
           

    69,141

     
      12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
           
               
      13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
             
           

    Less than 1%

     
      14   TYPE OF REPORTING PERSON  
             
            CO  

     

     8

    CUSIP No. 22410J106

      1   NAME OF REPORTING PERSON  
             
           

    Sardar Biglari

     
      2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐
            (b) ☐
               
      3   SEC USE ONLY    
               
               
      4   SOURCE OF FUNDS  
             
           

    AF

     
      5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)     ☐
           
               
      6   CITIZENSHIP OR PLACE OF ORGANIZATION  
             
           

    USA

     
    NUMBER OF   7   SOLE VOTING POWER  
    SHARES          
    BENEFICIALLY        

    2,069,141

     
    OWNED BY   8   SHARED VOTING POWER  
    EACH          
    REPORTING        

    -0-

     
    PERSON WITH   9   SOLE DISPOSITIVE POWER  
             
             

    2,069,141

     
        10   SHARED DISPOSITIVE POWER  
               
              -0-  
      11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
             
           

    2,069,141

     
      12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
           
               
      13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
             
           

    9.3%

     
      14   TYPE OF REPORTING PERSON  
             
           

    IN

     

     

     9

    CUSIP No. 22410J106

    The following constitutes Amendment No. 56 to the Schedule 13D filed by the undersigned (“Amendment No. 56”). This Amendment No. 56 amends the Schedule 13D as specifically set forth herein.

     

    Item 4.Purpose of Transaction.

     

    Item 4 is hereby amended to add the following:

     

    On October 8, 2024, the Reporting Persons issued a letter to shareholders of the Issuer (the “Letter”). The full text of the Letter is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

     

    Item 7.Material to be Filed as Exhibits.

     

    Item 7 is hereby amended to add the following exhibit:

     

    99.1Letter to shareholders, dated October 8, 2024.

     

     10

    CUSIP No. 22410J106

    SIGNATURE

     

    After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

     

      October 8, 2024  
      (Date)  
         
         
      THE LION FUND II, L.P.  
         
      By: BIGLARI CAPITAL CORP., its General Partner  
           
      By:

    /s/ Sardar Biglari

     
        Name: Sardar Biglari  
        Title: Chairman and Chief Executive Officer  
         
         
      BIGLARI CAPITAL CORP.  
         
      By:

    /s/ Sardar Biglari

     
        Name: Sardar Biglari  
        Title: Chairman and Chief Executive Officer  
         
         
      FIRST GUARD INSURANCE COMPANY  
         
      By:

    /s/ Sardar Biglari

     
        Name: Sardar Biglari  
        Title: Authorized Signatory  
         
         
      SOUTHERN PIONEER PROPERTY AND CASUALTY INSURANCE COMPANY  
         
      By:

    /s/ Sardar Biglari

     
        Name: Sardar Biglari  
        Title: Authorized Signatory  
         
         
      BIGLARI REINSURANCE LTD.  
         
      By:

    /s/ Sardar Biglari

     
        Name: Sardar Biglari  
        Title: Authorized Signatory  
         
         
      BIGLARI INSURANCE GROUP INC.
       
      By:

    /s/ Sardar Biglari

        Name: Sardar Biglari
        Title: Authorized Signatory
       
       
      BIGLARI HOLDINGS INC.
       
      By:

    /s/ Sardar Biglari

        Name: Sardar Biglari
        Title: Chairman and Chief Executive Officer
       
       
      /s/ Sardar Biglari
      SARDAR BIGLARI
       
                 

    11

     

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