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“I’ll add that these closures, these closures aren’t a sign of struggling franchisees. ... According to a May 8 press release, Applebee’s year-over-year domestic comparable same-restaurant ...
Moralejo added that the closures appear to be made because of “financial circumstances.” ... Last year, Applebee’s locations in Lenexa at 12242 W. 95th St. (near Oak Park Mall) and Shawnee ...
Yet this is belied by a wave of closures at casual dining giants like Applebees, which in May said it would shutter at least 35 locations this year; Red Lobster, which is facing bankruptcy ...
From 2012 to 2016, Applebee's aired an advertising campaign focusing on fresh ingredients and new dishes, narrated by Jason Sudeikis, featuring the slogan "See you tomorrow." [28] In 2012, Applebee's partnered with the country group Zac Brown Band on a Veteran's Day-themed "Thank You Movement" campaign to honor members of the U.S. military. [29]
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Party City closed 45 of its 870 stores in 2019, up from its usual 10 to 15 closures each year. [233] On January 18, 2023, Party City filed for Chapter 11 bankruptcy, [234] and a month afterward, announced the closure of 22 stores. An additional 9 stores were added to the closing list in April as well as 4 more locations in May. [235]
It has closed hundreds of Applebee's locations since 2017, including 46 in 2023. Peyton also noted on the earnings call that customers continued to pull back on their spending last year.
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