US – Applebee’s and IHOP who are owned by the same company announced this week that due to COVID-19 slumping sales they will close 115 stores across the country.
The company reported in their third quarter sales report that sales did increase throughout the entire quarter, but it is still recovering from the 40% drop in sales since shutdowns in March.
“We believe that both Applebee’s and IHOP are well-positioned to build on the impressive expansion of our off-premise growth, return restaurant sales to pre-pandemic levels and resume our solid history of growth,” says the CEO of Dine Brands Global, Inc. Steve Joyce.
Applebee’s will close 15 stores and IHOP will roll back 100 stores, those store locations have not yet been announced.
