News & Trending Debt & Bankruptcy News

Applebee’s Franchisee Files for Bankruptcy and Closes 10 Locations (Plus 53 More at Risk)

Franchisees are struggling as consumers turn away from restaurant dining.

By Cassandra Yorgey , Edited by Calista Headrick

Updated April 28, 2026

Add Us On Google

Another American casual-dining restaurant chain has filed for bankruptcy, or at least part of it.

The Neighborhood Restaurant Partners Florida (NRPF), an Atlanta-based Applebee's franchisee, filed for Chapter 11 bankruptcy at the end of March for the 53 locations they operate across Georgia, Florida, and Alabama. This comes during a rough time for the restaurant industry, as financial pressures have consumers looking for ways to stretch a restaurant budget further, and that means sales are down across the board.

Learn why this large Applebee's franchise is tanking, how it will impact the rest of the brand, and how it might still be saved.

Earn $200 cash rewards bonus with this incredible card

The Wells Fargo Active Cash^® Card (Rates and fees) has no annual fee and you can earn $200 cash rewards bonus after spending $500 in purchases in the first 3 months.

Cardholders can also earn unlimited 2% cash rewards on purchases.

The best part? There's no annual fee.

Click here to apply now.

The history of Neighborhood Restaurant Partners Florida

The NRPF was formed in 2012 to acquire 50 Florida locations in the Tampa and Orlando areas, and grew to over 65 locations by 2015. The future initially looked bright for the company; however, a slow decline followed. Softening sales, unsuccessful promotions, COVID, and sustained inflation drove the NRPF into the red.

Make Money: 8 things to do if you're barely scraping by financially

How many Applebee's locations have closed so far?

Last year, the operator shuttered nine Applebee's restaurants, and then five more in the first quarter of 2026, in an attempt to stave off bankruptcy. This leaves 53 locations in Florida, Georgia, and Alabama set to be acquired by Applebee's.

Unfortunately, the financial distress continued, and now an additional 10 locations are seeking lease rejections as part of the Chapter 11 filings. These freshly closed restaurant locations are in prime locations near tourist destinations like SeaWorld, Walt Disney World, and the Daytona International Speedway.

Read on for the 10 shuttered locations.

Florida

Nine Florida units were closed on or after the bankruptcy petition date:

Celebration: 6290 W. Irlo Bronson Memorial Highway
Casselberry: 3315 U.S. Highway 17-19
Daytona Beach: 1700 W. Intl. Speedway Blvd.
Kissimmee: 14990 E. Orange Lake Blvd.
Orlando: 2503 S. Kirkman Road
Orlando: 11036 International Drive
Ormond Beach: 150 Williamson Blvd.
Panama City: 678 W. 23rd St.
Panama City Beach: 10071 Hutchison Blvd.

Earn as much as $1K doing simple online tasks

A company called Freecash has compiled all sorts of quick cash tasks from about a dozen advertisers and market research companies thirsty for more data. Freecash has paid out over $13 million to users since 2019, and has over 50,000 five-star reviews on Trustpilot.

Georgia

Additionally, one location was closed in Georgia:

Albany: 637 Westover Blvd.

What is in the bankruptcy filing?

The bankruptcy filing indicates NRPF has $1 million to $10 million in assets against $10 million to $50 million in liabilities. That includes over $13 million owed to lender Equity Bank.

The filings were made to Georgia's Northern District Bankruptcy Court, although tentative negotiations were already ongoing with Applebee's parent company, Dine Brands. The worsening financial situation forced the franchisee to file for bankruptcy before a deal could be cemented.

What will happen to the remaining NRPF Applebee's locations?

It's not guaranteed that the 53 remaining Applebee's locations owned by NRPF will survive the bankruptcy process; however, Applebee's parent company, Dine Brands, is expected to acquire the restaurants.

They are currently acting as the stalking-horse bidder, and the acquisition could be completed as early as mid-May 2026. This isn't the first time Dine Brands has bought out franchisees, and in 2025, they acquired 47 locations with plans to renovate and improve them.

Don't miss: 8 clever ways to save money so you can still afford to eat out

Applebee's overall financial health

Applebee's currently has roughly 1,520 franchised locations, as of 2025. Dine Brands CEO John Peyton released a statement indicating that Applebee's brand remains strong, even though individual franchisees may struggle.

"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," Peyton said.

Restaurant Dive also reports that Applebee's comparable sales in 2025 were up 1.3%, compared to a negative 4.2% the year prior.

Casual dining pressures across the industry

Applebee's isn't the only chain restaurant, or franchisee, that is struggling financially right now. Customers are strapped for discretionary funds as costs continue to rise on necessities like housing, food, insurance, and utilities — leaving less for dining out regularly. Franchisees for Popeyes, Subway, Domino's, and Firehouse Subs have also filed for bankruptcy this year.

Bottom line

Dine Brands projected that Applebee's would see sales growth of up to 2% for 2026. Though it may not seem like much, it is still a net positive while many of their competitors are struggling with financial losses that have never really recovered after the pandemic.

This is a significant improvement over Applebee's numbers from 2024, which showed a sales decline of 4.2%. While they might be weathering the difficult economic times better than many restaurant chains, investors aren't impressed. Shares for Dine Brands Global have dipped, as investors pull back to prepare financially to withstand an economic downturn.

More from FinanceBuzz: