ROANOKE, Va. - More than 100 Applebee's locations and more than 20 IHOP locations are planned to be closed, according to a press release from both restaurants' parent company, DineEquity.
The release, which announced the financial results for the second quarter of fiscal 2017, explained that the closures would be based on multiple criteria, including franchisee profitability, operational results and meeting our brand quality standards.
DineEquity plans to close between 105 and 135 Applebee's restaurants and between 20 and 25 IHOP restaurants.
"We are investing in the empowerment of our brands by improving overall franchisee financial health, closing underperforming restaurants and enhancing the supply chain. We are focusing on operations and elevating the guest experience, whether in our restaurants or off-premise. We believe 2017 will be a transitional year for Applebee's and we are making the necessary investments for overall long-term brand health and expect to see improvement over the next year," said Richard J. Dahl, chairman and interim CEO of DineEquity Inc., in a news release.
The company did not release a list of which restaurants will be closed.
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