Applebee’s restaurant closures: See the list of doomed locations after a major franchisee went bankrupt

A number of Applebee’s Neighborhood Grill + Bar restaurants have closed their doors in the wake of mounting financial distress and declining foot traffic, according to a recent bankruptcy filing.
The 10 shuttered stores, located in Florida and Georgia, are all owned by an Atlanta-based Applebee’s franchisee that last week became the latest regional restaurateur to seek Chapter 11 protection.
The list of impacted locations includes long-standing Applebee’s restaurants near top tourist destinations such as SeaWorld, Walt Disney World, and the Daytona International Speedway.
Most of the locations were closed at some point before the franchisee’s initial bankruptcy petition on March 24, although online reviews suggest that some of the restaurants were still operating as recently as last week.
Applebee’s had roughly 1,520 franchised locations as of December 2025.
Which franchisee went bankrupt?
According to court records, the bankrupt franchisee operates as a holding company called NRPF Group Two, along with multiple subsidiaries. Together, they own more than 50 Applebee’s locations in Florida, Georgia, and Alabama.
Unfortunately, not all of its restaurants are going to survive the bankruptcy process.
NRPF (short for Neighborhood Restaurant Partners Florida) is now seeking to reject the leases at the 10 properties in Florida and Georgia where the locations have shuttered, court documents reveal. Applebee’s restaurants had operated at the locations for more than a decade in some cases, with one lease dating all the way back to 1995.
It’s unclear how many jobs have been impacted by the closures, or if more restaurants are expected to shutter.
At the time of its bankruptcy filing, NRPF said it employed around 2,000 workers, including employees and independent contractors. The restaurant group has hired GGG Partners, a turnaround firm, to oversee its restructuring process.
Fast Company reached out to GGG Partners for comment.
News of the bankruptcy comes as increasing numbers of struggling chain restaurant franchisees appear to be turning to the courts to manage unsustainable debt loads.
Earlier this year, a Miami-based owner of roughly 130 Popeyes Louisiana Kitchen locations closed at least 17 establishments after filing for bankruptcy. Franchisees for Subway, Domino’s Pizza, and Firehouse Subs have also filed for bankruptcy in recent weeks.
Why is the Applebee’s franchisee bankrupt?
Business was apparently bright for the regional restaurant owner in the first few years after it acquired 65 Applebee’s locations in 2012. As described in court documents, NRPF enjoyed growth and profitability well into 2015, but then business started to fall off at the end of that year.
The story from there is a familiar one for many legacy restaurant chains, particularly in the casual dining space. The COVID-19 pandemic and subsequent inflationary pressures had a detrimental impact on the company’s bottom line. Operating costs increased, customers felt the pinch from higher prices, and foot traffic dropped.
As of last year, the company was operating in the red, despite having closed several locations in 2025 in an attempt to stem losses.
In February, NRPF reached a tentative deal with the parent company of Applebee’s, Dine Brands Global, through which Applebee’s would acquire 53 of NRPF’s locations. But escalating financial struggles forced NRPF to file for bankruptcy before the deal could be finalized.
The transaction is still expected to be completed by mid-May, with Dine Brands now acting as a “stalking horse” bidder for NRPF’s stores in the bankruptcy process.
It was not immediately clear if a deal with Dine Brands could change the fate of the 10 shuttered stores.
“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,” John Peyton, president of Applebee’s and CEO of Dine Brands, said in an emailed statement to Fast Company.
Scooping up franchise-owned restaurants is not unprecedented for Dine Brands. In a 2025 financial report with the Securities and Exchange Commission (SEC), it said it acquired 47 restaurants from franchisees in 2024 and another 12 last year.
Which Applebee’s locations are closing?
According to a March 24 court docket, nine Florida locations and one Georgia location were either closed as of the bankruptcy petition date, or were expected to be closed after the date.
The locations were described by NRPF as “unprofitable,” with the properties being “burdensome” and providing little to no value for the company.
The 10 locations are as follows:
150 Williamson Boulevard, Ormond Beach, Florida
14990 E. Orange Lake Blvd., Kissimmee, Florida
2503 S. Kirkman Road, Orlando, Florida
6290 W. Irlo Bronson Memorial Highway, Celebration, Florida
11036 International Drive, Orlando, Florida (SeaWorld)
3315 U.S. Highway 17-19, Casselberry, Florida
678 West 23rd Street, Panama City, Florida
637 Westover Boulevard, Albany, Georgia
10071 Hutchison Boulevard, Panama City Beach, Florida
1700 W. Intl. Speedway Blvd., Unit 600, Daytona Beach, Florida
Is Applebee’s in trouble?
While Peyton maintained in his statement that “the Applebee’s brand remains strong,” sales have struggled in recent years, although there have been recent glimmers of hope.
Dine Brands, which also owns IHOP, reported a 0.4% decline in Applebee’s same-store for the fourth quarter of 2025, but sales were up 1.3% for the year.
In its February earnings report, Dine Brands projected that Applebee’s in 2026 would see U.S. sales growth of 0% to 2%. That’s nothing to brag about, but it’s a significant improvement over two years ago, when Applebee’s sales declined 4.2%.
Still, investors don’t seem to be as impressed. Shares of Dine Brands Global Inc (NYSE: DIN) are down more than 24% year to date, compared to a dip of around 7% for the S&P 500. The stock saw significant declines during the post-COVID era and has not fully recovered since.