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Applebee’s Franchisee Closes 10 Locations After Bankruptcy (Could More Be Next?)

Franchisees are struggling as consumers turn away from restaurant dining.

By Josh Koebert , Edited by Andrea Basse

Updated Aug. 28, 2026

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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 tanked, how it will impact the rest of the brand, and how it might still be saved.

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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.

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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.

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Georgia

Additionally, one location was closed in Georgia:

Albany: 637 Westover Blvd.

What is in the bankruptcy filing?

The bankruptcy filing indicates NRPF had up to $50,000 in assets against $10 million to $50 million in liabilities. That includes over $13 million owed to lender Equity Bank.

The franchisee filed in Georgia's Northern District Bankruptcy Court. Tentative negotiations were already ongoing with Applebee's parent company, Dine Brands. The worsening financial situation forced the franchisee to file for bankruptcy before it could cement a deal.

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

Applebee's parent company, Dine Brands, acquired the 53 remaining Applebee's locations. Dine Brands intends to keep the locations open.

This isn't the first time Dine Brands has bought out franchisees. In 2025, they acquired 47 locations.

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Applebee's overall financial health

Applebee's currently has 1,614 locations, as of 2026. Dine Brands CEO John Peyton recently released a statement indicating that Applebee's brand remains strong.

"Our brands made meaningful progress in an environment in which consumers remain focused on affordability and value," Peyton said.

Restaurant Dive reports that Applebee's comparable sales in 2025 were up 1.3%, compared to a negative 4.2% the year prior. In 2026, Applebee's comparable sales rose 1.9% in the first quarter but fell 1.8% in the second quarter.

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 for necessities like housing, food, insurance, and utilities continue to rise, leaving less for regular dining out. 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 2024 numbers, which showed a 4.2% sales decline. Dine Brands shares have held up well this year, trading near the top of their 52-week range, and one activist investor's stake in the stock rose 70% year-to-date as of July 2026. Still, the broader restaurant sector remains on edge as operators and investors try to withstand an economic downturn.

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