Applebee's, IHOP to Close Up to 160 Restaurants
The Atlanta Journal-Constitution (Aug. 10, Willis) has learned that "DineEquity Inc., the parent company of Applebee's and IHOP, is planning to close up to 160 of the restaurants." The company is targeting between 105 and 135 Applebee's locations and 20 to 25 IHOP eateries for permanent shuttering. The company previously said it expected to close only 40 to 60 Applebee's restaurants and 18 IHOP locations. Applebee's has been struggling more than IHOP with a 7 percent decrease in sales versus similar eateries during the first half of 2017. "IHOP has had a 2.1 percent decrease for comparable restaurants in the same amount of time," reports the newspaper.
Abstract News © 2017 INFORMATION, INC.