Food Applebee’s and IHOP Will Close 100 Locations

20:36  11 august  2017
20:36  11 august  2017 Source:

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Currently there are more than 2,000 Applebee ’ s and 1,600 IHOP locations worldwide. • IHOP and Applebee ’ s Closing Over 100 Restaurants [CBS] • New Applebee ' s - IHOP Restaurant in Detroit Safe Amid Closures [Crain’s Detroit].

This week, DineEquity, the parent company that owns Applebee ' s and IHOP , announced that after months of financial hardships it will be shutting down more than 100 stores by the end of the year. DineEquity plans to close about 105 to 135 Applebee ' s locations and at least 25 IHOP stores.

  Applebee’s and IHOP Will Close 100 Locations © Provided by Eater

Further evidence that mid-level chains are struggling

It’s no secret that mid-level chain restaurants are having a tough go of things lately, and here’s more evidence to add to that file: More than 100 Applebee’s locations and around 20 IHOPs will shutter this year, CBS reports.

DineEquity, the parent company of both brands, is focusing on shuttering underperforming locations. An earnings report released yesterday shows sales fell by more than six percent at Applebee’s and nearly three percent at IHOP in the last quarter; meanwhile, CBS notes that DineEquity’s stock has lost almost half its value this year.

Doughnut French Toast Is Coming to IHOP

  Doughnut French Toast Is Coming to IHOP <p>It's a doughnut, dipped in French toast batter and fried in butter</p>This doughnut French toast is a first for the California-based restaurant chain, which is celebrating its 59th birthday this week, though the inspiration for this new IHOP dish was simple. "Doughnuts are so on trend, everyone's talking about doughnuts," said chef Nevielle Panthaky, vice president of culinary at IHOP, at a media preview in New York City last night. And chef and his team wanted to find a way to include America's favorite breakfast pastry on their menu, even at one point, according to Panthaky, trying to cook a doughnut in a waffle iron in the test kitchen.

KHQ Email Subscription. Applebee ' s , IHOP to close over 100 locations . Posted: Updated: The parent company that owns chain restaurants Applebee ' s and IHOP said they will be closing at least 125 locations as a result of declining sales.

Casual-dining restaurants have struggled as more customers have gravitated toward quick-service restaurants like Panera Bread or Chipotle Mexican Grill. USA TODAY.

Diehard Rooty Tooty Fresh ‘n Fruity pancake fans need not despair, though: Parent company DineEquity is forging ahead with expanding IHOP internationally, and Crain’s Detroit reports it still plans to open its first combined IHOP/Applebee’s restaurant in Detroit next March. Currently there are more than 2,000 Applebee’s and 1,600 IHOP locations worldwide.

Casual sit-down chains like Chili’s, TGI Fridays, and Olive Garden have struggled in recent years for several reasons: Diners these days tend to go either high, spending money on special, fine-dining experiences, or low, eating at cheaper fast-casual chains, meaning places in the middle are feeling the squeeze. These kinds of chains tend to suffer from bloated menus that try to do everything at once, versus the currently-booming specialty fast-casual spots that focus on doing one or two things and doing them well, be it poke, fried chicken, or hummus. The rise of meal kits may also be contributing to more people cooking at home instead of going out, though that’s a bubble that may be bursting as well.

IHOP and Applebee’s Closing Over 100 Restaurants [CBS]

New Applebee's-IHOP Restaurant in Detroit Safe Amid Closures [Crain’s Detroit]

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