Corporate layoffs will follow for sure, they always do... Yet, here is what was making news today... As released today during the earnings call for DineEquity - more Applebee's and IHOPs are closing...
Here is an update for Applebee's:
Revised expectations for Applebee's closures to range between approximately 105 and 135 restaurants. This compares to previous expectations for closures of approximately 40 to 60 restaurants. The expected closures will be based on several criteria, including franchisee profitability, operational results and meeting our brand quality standards.
Here is an update for IHOP:
Revised expectations for IHOP closures to range between 20 and 25 restaurants. This compares to previous expectation for the closure of approximately 18 restaurants.