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Honored Contributor
Posts: 9,587
Registered: ‎03-10-2010

Has Applebee's filed for bankruptcy?

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.

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Honored Contributor
Posts: 13,575
Registered: ‎03-09-2010

Re: Has Applebee's filed for bankruptcy?

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

@RetRN  right?

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Honored Contributor
Posts: 23,399
Registered: ‎03-20-2010

Re: Has Applebee's filed for bankruptcy?

[ Edited ]

@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
  •  
Animals are reliable, full of love, true in their affections, grateful. Difficult standards for people to live up to.”
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Esteemed Contributor
Posts: 6,487
Registered: ‎10-01-2013

Re: Has Applebee's filed for bankruptcy?

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

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Esteemed Contributor
Posts: 6,557
Registered: ‎03-09-2010

Re: Has Applebee's filed for bankruptcy?

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.

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Trusted Contributor
Posts: 1,721
Registered: ‎03-28-2010

Re: Has Applebee's filed for bankruptcy?

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

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Honored Contributor
Posts: 23,399
Registered: ‎03-20-2010

Re: Has Applebee's filed for bankruptcy?

[ Edited ]

@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. 

Animals are reliable, full of love, true in their affections, grateful. Difficult standards for people to live up to.”
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Respected Contributor
Posts: 3,868
Registered: ‎03-10-2010

Re: Has Applebee's filed for bankruptcy?


@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.

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Respected Contributor
Posts: 3,711
Registered: ‎03-30-2014

Re: Has Applebee's filed for bankruptcy?

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.

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Frequent Contributor
Posts: 140
Registered: ‎04-08-2011

Re: Has Applebee's filed for bankruptcy?

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.