Applebee's to close as many as 135 locations nationwide

File photo of an Applebee's restaurant in Yonkers, New York. (Photo: Wikimedia/Anthony22)
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Applebee's may no longer be feeling so good in your neighborhood.

DineEquity, the restaurant chain's parent company, announced Thursday it expects more than 100 locations to close, though no timeline was given for the closures. As many as 135 restaurants could be shut down, up from an expected 40-60 locations announced in May.

No locations were targeted for closure at this time, though DineEquity says the decision to close will be based on criteria including "franchisee profitability, operational results and meeting our brand quality standards."

For the all-day breakfast crowd, DineEquity expects 20-25 IHOP restaurants to close, but again, did not give a timetable or locations.

As some restaurants close, the company announced plans to devlop as many as 30 new Applebee's restaurants and up to 95 new IHOPs around the world.

Read the entire press release here.

http://investors.dineequity.com/news-releases/news-release-details/dinee...