Applebee’s And IHOP Restaurants Closing Across The USA
The parent company of Applebee's and IHOP announced that several hundred locations will be closing across the country in the coming months. There were already rumblings that DineEquity Inc had plans to shutter between 30 and 60 Applebee's but that confirmed number was increased in a report from the company issued Thursday.
The plan according to the release from DineEquity Inc was that 105 to 135 Applebee's locations would be closing and 20 to 25 IHOP locations would be closing as well. The company did not say which locations had been targeted for closing but did state that "franchisee profitability, operational results, and meeting brand quality standards" would be the criteria used to determine the locations that would be shuttered.
The company also noted that while closings at some locations in the United States were imminent there were plans to add an additional 20 to 30 Applebee's and 80 to 95 IHOPs globally. Those locations had not been announced.