MANCHESTER, NH – Applebee’s plans to close between 25 to 35 restaurants this year, Dine Brands Global Inc., the restaurant chain’s owner, said Wednesday. But those closings may eventually be offset by a new franchise deal that seeks to open new Applebee’s across the country.
The fact that 25 to 25 Applebee’s would close was first included in Dine Brands financial goals for earlier this year and was reiterated Wednesday with release of its 2024 first-quarter report.
A new franchising deal with the company that owns all of New Hampshire’s Applebee’s, however, may offset some of those closings. The deal with Flynn Group, which owns more than 460 Applebee’s in 24 states, is aimed at opening new locations in “untapped markets,” according to an April 22 news release.
Dine Brands has not said which of its more than 1,600 Applebee’s locations would close this year. The 13 Applebee’s in New Hampshire are in Manchester, Nashua, Concord, Derry, Dover, Epping, Hooksett, Keene, Littleton, North Conway, Portsmouth, Tilton and West Lebanon.
Dine Brands announced the agreement with San Francisco-based Flynn Group last month, and said the goal is to open 25 new Applebee’s restaurants in the U.S. over the next seven years.
“This expansion goal is part of Applebee’s development strategy to return the brand to net new unit openings,” the company said in an April 22 news release.
Dine Brands, headquartered in Pasadena, California, also owns IHOP and Fuzzy’s Taco Shops, comprising more than 3,500 restaurants in 18 international markets, according to the first-quarter earnings report. That included 1,635 locations as of March 31. Applebee’s closed 46 locations in 2023.