Like we didn’t see this one coming. According to this WBS report, Applebee’s is closing up to 135 restaurants. The struggling chain has seen a massive decline in sales as the company has not adapted to the trend of cleaner, healthier eating. Applebee’s has also failed to ‘right size’ their operation as discretionary cash has dried up for many Americans.
Your local Applebee’s may be closing soon, as the struggling casual restaurant chain tries to turn its business around.
In an August 10 news release, Applebee’s reported that comparable same-restaurant sales declined 6.2% for the second quarter of 2017, and they’re expected to range between negative 6% and negative 8% for fiscal 2017.
DineEquity Inc., the parent company of Applebee’s, described this as a “transitional year” for the chain.
As part of its turnaround strategy, more restaurants will be closed than initially planned. The company now expects to shut down between 105 and 135 of its nearly 2,000 Applebee’s locations.
In May, the expectation was that between 40 to 60 restaurants would be shuttered in fiscal 2017.
No list of the affected locations has been released. Applebee’s says the expected closures will be based on several criteria, including franchisee profitability, operational results and meeting brand quality standards.
Applebee’s president John Cywinski said back in May that the turnaround plan was just beginning to take shape.
Applebee’s latest attempt to bring customers back is its new Topped & Loaded menu. Starting at $10.99, the customizable lineup features four protein choices, three toppers and four side options.