IHOP Closes Almost 100 U.S. Locations Due to Financial Loss in the Pandemic
We’re sad to announce that IHOP will be shutting a number of locations due to the financial strains brought on by the pandemic.
Dine Brands Inc., the parent company of IHOP and Applebee’s, announced this week that almost 100 locations of the chain will close across the U.S. over the next six months.
Currently, the chain operates 1,683 restaurants, and 35 have shuttered so far in 2020.
“We’re confident we will eventually replace these severely under-performing restaurants with better performing restaurants,” Jay Johns, IHOP’s president said to Business Insider.
It’s also been reported that 167 locations were operating as takeout only as of the end of September, while 91 have remained closed.
We’re so sad to see them go, but hopefully they’ll be able to pop back up when the economy turns around.