Greg Flynn, chairman abd CEO of Flynn Restaurant Group, parent company of Apple American Group, released a statement surrounding the recent announcement made by DineEquity, the parent company of the Applebee’s Neighborhood Grill & Bar brand.
As it has been widely reported, DineEquity, the parent company of the Applebee’s Neighborhood Grill & Bar brand, announced that it expects the closure of between 105—135 restaurants across the country. We, Apple American Group, a subsidiary of Flynn Restaurant Group, want to assure our valued guests and employees that this announcement in no way affects franchised Applebee’s locations that we own and operate. Apple American Group has no plans to close any restaurants at this time. Additionally, Apple American Group is supported by the strong financial resources of Flynn Restaurant Group, is currently ranked No. 1 out of 33 franchise groups in the balanced scorecard and has outpaced the rest of the Applebee’s system in second quarter comp sales by a full 240 basis points.
“All great brands have closed units, it is a natural and healthy part of the process,” says CEO, Greg Flynn. “Rest assured, Applebee’s will come through this just fine and will be stronger for it in the long run.”
“DineEquity also announced some very positive news that was overshadowed by the closure communication. It has hired a great new CEO, Steve Joyce, and a new Chief Culinary Officer for Applebee's, Stephen Bulgarelli. We look forward to their contributions to the brand and trust that their expertise will make a notable impact to the Applebee’s system.”
News and information presented in this release has not been corroborated by FSR, Food News Media, or Journalistic, Inc.