Applebee’s closed in Oxford
Applebee’s on Jackson Avenue has closed its doors permanently.
DineEquity, the restaurant’s parent company (which also owns IHOP), has had a difficult year. According to a recent article from the Los Angeles Business Journal, “domestic same-store sales are expected to fall between -4 percent to -8 percent.”
In his recent fourth quarter statement, CEO Richard Dahl said:
“While this has been a challenging period for the industry, particularly for casual dining and Applebee’s, I have confidence in our brands, our franchisees and our team members. Working with a world-class management consulting firm to conduct a comprehensive diagnostic on Applebee’s, we are moving forward with a plan to significantly invest in the growth of our brands for the long-term benefit of our franchisees and shareholders.”
The same article predicted that Applebee’s is expected to close 40 to 60 restaurants this year.
No one with the local Applebee’s was available for comment.
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