Applebee's Franchisee Files for Bankruptcy Amid Wave of Closures

The Atlanta-based franchisee operated over 50 Applebee's locations across Florida and Georgia.

Apr. 4, 2026 at 12:07am

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A minimalist studio still life featuring a stack of financial documents, a pen, and a calculator arranged on a clean, monochromatic background, conceptually representing the corporate strategy and financial challenges facing the Applebee's franchisee.The bankruptcy filing and restaurant closures of an Applebee's franchisee highlight the financial pressures facing the restaurant industry.Williamson Today

An Atlanta-based Applebee's franchisee, Neighborhood Restaurant Partners Florida, has filed for Chapter 11 bankruptcy and closed 10 locations across Florida and Georgia. The franchisee, which operated over 50 Applebee's restaurants, cited financial struggles, inflation, and the impact of the COVID-19 pandemic as reasons for the bankruptcy filing and closures.

Why it matters

The Applebee's bankruptcy and closures are part of a broader wave of restaurant industry challenges, with rising costs and changing consumer habits impacting many chains. This case highlights the difficulties franchisees can face in maintaining profitability, even for well-known brands like Applebee's.

The details

Neighborhood Restaurant Partners Florida bought 50 Applebee's restaurants in 2012 and then acquired another 15 locations four months later. The franchisee saw success from 2013 to 2015, but sales began to decline in late 2015. The company then experienced 'periods of ups and downs' as it 'battled through various unsuccessful strategies and promotions, the COVID-19 pandemic and the inflationary pressures presently impacting the entire restaurant industry.' In addition to financial struggles, the franchisee said operating expenses increased due to inflation. The company closed 9 restaurants in 2025 and 5 more in the first quarter of 2026, leaving it with 53 locations. Applebee's is now leading the bankruptcy sale process for the franchisee's remaining restaurants.

  • Neighborhood Restaurant Partners Florida bought 50 Applebee's restaurants in May 2012.
  • The franchisee bought another 15 Applebee's restaurants four months later in September 2012.
  • Sales began to slump for the franchisee in late 2015.
  • The franchisee closed 9 restaurants in 2025.
  • The franchisee closed 5 more restaurants in the first quarter of 2026.

The players

Neighborhood Restaurant Partners Florida

An Atlanta-based Applebee's franchisee that operated over 50 locations across Florida and Georgia before filing for Chapter 11 bankruptcy.

John Peyton

CEO of Dine Brands, the parent company of Applebee's, who stated that the 'Applebee's brand remains strong' and the company is 'approaching this the same way we always do — with a focus on stability, growth, and doing what's right for our guests, team members, and franchise partners.'

Rob Williamson

A lawyer representing Neighborhood Restaurant Partners Florida, who said the business 'plans to use the Chapter 11 process to facilitate a going concern sale of all of the current restaurants, and no additional closures are planned.'

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What they’re saying

“The companies then experienced periods of ups and downs, as they battled through various unsuccessful strategies and promotions, the COVID-19 pandemic and the inflationary pressures presently impacting the entire restaurant industry.”

— Neighborhood Restaurant Partners Florida

“Serving as the stalking horse bidder gives us the opportunity to be strategic and selective in supporting the long-term health of the system and this portfolio of restaurants has historically had solid performance. We're approaching this the same way we always do — with a focus on stability, growth, and doing what's right for our guests, team members, and franchise partners.”

— John Peyton, CEO of Dine Brands and Applebee's President

What’s next

The bankruptcy sale for Neighborhood Restaurant Partners Florida's remaining 53 Applebee's locations is slated to take place in mid-May 2026, with Applebee's acting as the stalking horse bidder.

The takeaway

The Applebee's franchisee bankruptcy and closures highlight the ongoing challenges facing the restaurant industry, including rising costs, shifting consumer preferences, and the lingering impacts of the pandemic. This case underscores the difficulties franchisees can face in maintaining profitability, even for well-known brands, and the importance of adaptability and strategic decision-making.