topic Re: Has Applebee's filed for bankruptcy? in Community Chat

Has Applebee's filed for bankruptcy?

depglass — Sat, 01 Feb 2020 15:23:46 GMT

I have a decent stack of gift cards I received in payment for some work I did. Do I have to rush to use them up? No local news on this one.

Re: Has Applebee's filed for bankruptcy?

AuntG — Sat, 01 Feb 2020 15:31:52 GMT

With the bad meal we had there, I wouldn't be surprised!

@RetRN right?

Re: Has Applebee's filed for bankruptcy?

Spurt — Sat, 01 Feb 2020 15:49:31 GMT

@depglass

Looks like they've been in a bit of trouble the last couple of years..... this is from 2018:

Applebee's closed 99 locations in 2017 — and it's about to close dozens more in 2018. Applebee's announced on Tuesday that it plans to close 60 to 80 locations in 2018. Applebee's shuttered 99 locations in 2017. Executives have blamed the chain's failed attempt to win over millennials for its downward spiral.Feb 20, 2018...

But it looks like they are trying to turn it around...This is from 2019 ----still struggling

Third Quarter of 2019

Applebee’s comparable same-restaurant sales decreased 1.6% for the third quarter of 2019.

Applebee’s comparable same-restaurant sales decreased 0.1% for the nine months of 2019.

Second Quarter of 2019

Applebee’s comparable same-restaurant sales decreased 0.5% for the second quarter of 2019.

First Six Months of 2019

Applebee’s comparable same-restaurant sales increased 0.6% for the six months of 2019.

The increase in net income was primarily due to higher gross profit as the result of $30.0 million in franchisor contributions to the Applebee’s national advertising fund made in the first nine months of 2018 that did not recur in 2019. This was partially offset by approximately $8.3 million in debt extinguishment costs related to the refinancing of our long-term debt, which was completed on June 5, 2019.
Adjusted net income available to common stockholders was $90.0 million, or adjusted earnings per diluted share of $5.17, for the first nine months of 2019. This compares to adjusted net income available to common stockholders of $65.2 million, or adjusted earnings per diluted share of $3.66, for the first nine months of 2018. The increase in adjusted net income was primarily due to higher gross profit as the result of $30.0 million in franchisor contributions to the Applebee’s national advertising fund made in the first nine months of 2018 that did not recur in 2019

Re: Has Applebee's filed for bankruptcy?

RetRN — Sat, 01 Feb 2020 15:41:18 GMT

@AuntG, the food and service was really bad! Seems like these places can not find good workers. Burger King food was unedible, remember that?

Re: Has Applebee's filed for bankruptcy?

CelticCrafter — Sat, 01 Feb 2020 15:53:02 GMT

I don't know if they have filed or not but they have been in trouble for sometime now.

I would use them up asap.

Both my daughter and son-in-law are in the restaurant industry and they will say to us if you have gift cards to such and such, use them up because word has it they are in trouble and have started closing locations.

Re: Has Applebee's filed for bankruptcy?

ScrapHappy — Sat, 01 Feb 2020 15:53:43 GMT

The Applebee's in my area closed a while ago.

Re: Has Applebee's filed for bankruptcy?

Spurt — Sat, 01 Feb 2020 15:56:53 GMT

@AuntG wrote:
With the bad meal we had there, I wouldn't be surprised!
@RetRN right?

@AuntG

My friends and I ate at Applebee's and we weren't impressed with their food at all.

And I noticed that one of their restaurants here recently closed and is now a Mexican Restaurant.

Re: Has Applebee's filed for bankruptcy?

lovescats — Sat, 01 Feb 2020 15:55:43 GMT

@depglass wrote:
I have a decent stack of gift cards I received in payment for some work I did. Do I have to rush to use them up? No local news on this one.

I would find a couple takeout items that I liked and use them up or find someone who wants them like a charity because today you never know when somethng is going to close.

Re: Has Applebee's filed for bankruptcy?

Still Raining — Sat, 01 Feb 2020 16:06:50 GMT

They used to be nice.

My BBF asked me to take her there for her first post hip replacement meal long ago. I was so tickled to use her handicap tag.

Re: Has Applebee's filed for bankruptcy?

Islandqueen1 — Sat, 01 Feb 2020 16:13:19 GMT

I haven't heard anything about bankrupcy. I do know that all Applebees aren't alike. There is one nearby that is really bad and there is another one that is excellent. It all has to do with that specific location. They have great deals for Military, active and retired. Monday's its 30% off and we usually go twice a month. They are busy on Monday's, they are busy anyday after 4:30.

Re: Has Applebee's filed for bankruptcy?

tarytoo — Sat, 01 Feb 2020 16:23:33 GMT

my mother and my daughter give us applebees gift cards for birthdays, anniversaries and christmas. i heve quite a few of them because we seldom if ever go there. i guess we'll have to use them up, now that i've heard this news.

Re: Has Applebee's filed for bankruptcy?

Kachina624 — Sat, 01 Feb 2020 16:31:15 GMT

@Islandqueen1 wrote:
I haven't heard anything about bankrupcy. I do know that all Applebees aren't alike. There is one nearby that is really bad and there is another one that is excellent. It all has to do with that specific location. They have great deals for Military, active and retired. Monday's its 30% off and we usually go twice a month. They are busy on Monday's, they are busy anyday after 4:30.

@Islandqueen1. Except for a few training stores, Applebees restaurants are franchises, so they're independently owned and operated.

Re: Has Applebee's filed for bankruptcy?

Snowpuppy — Sat, 01 Feb 2020 16:36:34 GMT

@depglass the one closest to me is open and slammed on Fri & Sat nights.

While out Christmas shopping, we stopped at the one in St. Johns. Food and service was great. Bill wasn't bad, either.

Re: Has Applebee's filed for bankruptcy?

QVCkitty1 — Sat, 01 Feb 2020 16:40:11 GMT

We have so few restaurants in my area that aren't pizza joints and fast food that my friends and I often go to Applebee's for lunch. Our local one is clean and you can get good service , a decent sandwich or salad. It is not fine dining by any means, but around here it serves a purpose, and I would be sorry to see it go.

Re: Has Applebee's filed for bankruptcy?

reiki604 — Sat, 01 Feb 2020 17:03:21 GMT

Applebees is a chain and therefore has chain quality food and preparation. This is why DH and I never eat at any chain and only go to privately owned resataurants to support the chefs and small business owners that own them. We will not go out to eat substandard food when DH is a chef and can prepare magnificent, quality dinners at home or in friend's establishments.

Re: Has Applebee's filed for bankruptcy?

drizzellla — Sat, 01 Feb 2020 17:05:39 GMT

@Kachina624 wrote:
@Islandqueen1 wrote:
I haven't heard anything about bankrupcy. I do know that all Applebees aren't alike. There is one nearby that is really bad and there is another one that is excellent. It all has to do with that specific location. They have great deals for Military, active and retired. Monday's its 30% off and we usually go twice a month. They are busy on Monday's, they are busy anyday after 4:30.
@Islandqueen1. Except for a few training stores, Applebees restaurants are franchises, so they're independently owned and operated.

I used to work for a company that owned 20+ Applebee's Restaurants. And I must say that out of the 20+ there were always stores that didn't do a booming business and stores that always had a crowd.

Plus you got to know a few of the franchisees. Some people owned 3 stores and some owned 100. Some people were better at runing a restaurant and some people were struggling.

The company that I worked for, is still doing very well. They are always at charity events handing our free appetizer coupons (I have one in my hand) and they also make trays of food and hand out samples.

And since I know many of the managers I stop by and say hello sometimes, plus we eat there. The restaurants always seem to have a nice sized crowd. But I must admit there doesn't seem to be large crowds sitting around the entrance waiting for a table. But I think the "To Go" part of the restaurant eased some of that congestion. They used to have lots of chairs around the outside of the restaurants for all the people waiting for tables.

Sometimes I think the same person writes these articles. I have been reading for over 2 years that Burger King is going bankrupt. So all the author has to do it take the headline and insert a different restaurant's name.

Re: Has Applebee's filed for bankruptcy?

Imaoldhippie — Sat, 01 Feb 2020 17:07:12 GMT

I always liked Applebee's had 2 favorite foods there. Their Bourbon Street Steak and their spinach salad, always had a hard time deciding which to order.

A few years ago when they changed their menu to so called "healthy" choices, they did away with the spinach salad and changed the marinade on the steak. I was so bummed and dont go there much anymore..

Im so tired of other people deciding what I have to chose from in a restaurant.

Re: Has Applebee's filed for bankruptcy?

Porcelain — Sat, 01 Feb 2020 17:40:08 GMT

If I want frozen food in a fun atmosphere I can go to Cheesecake Factory or my own freezer. Applebees should go with current restaurant trends and pare down their menus and switch to fresh ingredients.

Re: Has Applebee's filed for bankruptcy?

GCR18 — Sat, 01 Feb 2020 18:06:16 GMT

I think they are headed that way. I would use the gift cards now.

Re: Has Applebee's filed for bankruptcy?

x Hedge — Sat, 01 Feb 2020 18:06:23 GMT

@depglass

I googled Applebys. There are still three in my area. But have to admit I never hear any advertising for them anymore, nor has anyone mentioned eating there in (must be) years.

So I'd hurry and use those gift cards if they were mine.