Skagit County, WA – DineEquity, the parent company of Applebee’s and IHOP plans to close up to 135 Applebee’s locations and 20 to 25 IHOP locations nationally. The company declined to release a list of locations that will be shut down but did say the company plans to open 20-25 new Applebee’s locations, mostly abroad and 80-95 new IHOP locations, mostly in the U.S.
“Restaurant closures are a normal course of business in the industry.” said Amy Mason, Senior Vice president for global communications and consumer insights. “They are either older locations in a lapsed trade area, where once vibrant retail, residential and traffic characteristics are no longer present, others are closed when they are underperforming with unsustainable economics. Closing these well-below average restaurants can have a positive brand benefit since guests are no longer experiencing a substandard experience.”
DineEquity is based out of Glendale, California and has over 3,700 restaurants in 19 countries.