Up To 160 Applebees, IHOP Locations To Close
The parent company of Applebees and IHOP will be closing upto 160 of the chain restaurants, however which locations are being targeted isn't yet known.
FoxBusinessNews reported Friday:
The company, which also owns IHOP, said it would close roughly 105 to 135 Applebee’s locations this year, far more than previous estimates of about 40 to 60 restaurants. Executives said the locations will be shuttered based on “several criteria,” such as profitability and “brand quality standards.”
DineEquity plans to shutter 20-25 IHOPs as well.
Simultaneously, the company is also planning to open new locations, FBN reports:
DineEquity said it would also open 20 to 30 new Applebee’s locations, most of which will be located overseas. The company added that it would open approximately 80 to 95 new IHOP franchises while closing 20 to 25 restaurants currently in operation.
There are four Applebees in Oneida and Herkimer counties (North Utica, New Hartford, Rome and Herkimer), and one IHOP (French Rd. in New Hartford).