Cracker Barrel’s stock has been in freefall over the past week after its CEO admitted the biscuits-and-gravy chain is “just not as relevant” as it used to be — and failed to show investors a convincing plan to revamp its restaurants.

The 54-year-old roadside eatery — with its Old Country Store and down-home menu of chicken fried steak, grits and hash brown casserole — has been steadily losing customers for the past decade.

Its senior clientele, among its most loyal, fled during the pandemic and many have since failed to return.

In response, Cracker Barrel said last Thursday it plans to spend as much as $700 million over the next three years.

Top brass says the company can fix some of its problems by updating its menu and marketing and “refreshing the interior and exterior” with a “different color palette.”

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