Share this @internewscast.com

Applebee’s has shuttered hundreds of locations over the past few yearsand sadly, the trend seems to be continuing in 2023.

The casual dining chain announced this week that it expects to end the year with 25 to 35 fewer restaurants than it had at the start. This will be an even bigger decrease than the 10 to 20 net closures that Applebee’s initially expected to see in 2023. Applebee’s net unit count hasn’t taken such a major hit since 2020, when it ended the year with 67 fewer restaurants, according to Restaurant Business Magazine.

RELATED: 2 Struggling Restaurant Chains Are the Latest to Declare Bankruptcy in 2023

Applebee’s has been shrinking in size for years. The company has shuttered hundreds of locations in recent years to remove underperforming restaurants from its system and get back on the right track for growth.

After ending 2021 with just 1,578 restaurants in the United States, its lowest total in more than a decade, Applebee’s was eyeing 2023 as the year when it would finally start growing again. However, higher development costs have slowed down new restaurant openings for the brand, while work is still underway to weed out the underperforming locations.

Applebee’s president Tony Moralejo explained during an earnings call this week that the chain had to increase its projection for 2023 restaurant closures after a recent review identified additional locations that “are no longer in strong markets.” Moralejo attributed the extra closures to factors like changing consumer behaviors after the COVID-19 pandemic. He also said that in some cases, Applebee’s franchisees have been unable to renew their leases.

Moralejo wouldn’t speculate about whether Applebee’s can expect to see further closures next year, but did note that the company will “work closely with our franchisees to help identify closures and make sure that we always leverage our collective expertise and our knowledge to set them up for long-term financial success.”

Moralejo also said that shuttering those underperforming restaurants will open doors for new restaurant openings in the future.

“Closing these underperforming restaurants opens up new trade areas. It opens up opportunities for growth especially when you consider our broader development strategy. Our new vice president of development is working closely with franchisees to take advantage of these opportunities.”

Zoe Strozewski

Zoe Strozewski is a News Writer for Eat This, Not That! A Chicago native who now lives in New Jersey, she graduated from Kean University in 2020 with a bachelor’s degree in journalism. Read more about Zoe
Share this @internewscast.com
You May Also Like

Statins Significantly Reduce Mortality Risk in Critically Ill Sepsis Patients

Taking statins can improve the chances of surviving sepsis by 40 per…

Why Stretching Can Cause Pain: Doctor Shares the Specific Reasons

A doctor has explained the exact reason why we feel a painful…

Numerous People Sickened by Salmonella Outbreak Tied to California Eggs

Federal food and health agencies are investigating a multistate outbreak of salmonella…

Discover: The Doctor-Developed 20-Minute Routine That May Help Prevent Bowel Cancer Amid Rising Cases

It sounds too simple to be true. Exercise works just as effectively…

Kathy Bates Reveals She ‘Feels Transformed’ After Shedding 100 Pounds

Kathy Bates has enthused that her whopping 100-pound weight loss has given her…

Revealed: The Drama Behind Trump and Musk’s Rocky Relationship and Which Billionaire Was Secretly Clingy

The abrupt break-up between President Donald Trump and his First Buddy played…

Dr. Ellie Unveils the Facts: Should You Take Fish Oil for Brain Health?

I’m 77 and my pharmacist told me that taking an omega-3 supplement…

Biohacker Bryan Johnson’s Favored Longevity Pill Falls Short in Slowing Aging, Study Finds

A supplement beloved by Bryan Johnson and other biohackers for its age-defying…

The Hidden and Untreatable Illness That May Reveal Itself During a Bathroom Visit

If you’ve noticed changes in your bowel habits – such as going…

New ‘Nimbus’ Covid Variant Sparks Rise in Hospitalizations as NB.1.8.1 Strain Spreads Across UK

Health chiefs have sounded the alarm and urged Britons to stay indoors…

Advice for 700,000 Brits: Avoid Combining These 3 Supplements with Common Medication

Almost one million Brits have been issued a caution regarding certain supplements,…

Doctor Uncovers Chilling Sign That May Indicate Less Than a Day Left to Live

An eerie symptom can manifest itself when a dying patient is close…