One of the largest Applebee’s franchises in the country, which also owns the Emporia Applebee’s has filed for bankruptcy.
RMH Franchise Holdings, which owns the Emporia, Manhattan and Topeka restaurants, filed for Chapter 11 bankruptcy protection Tuesday morning in Delaware, according to the Lincoln Journal Star. The newspaper reports that in its bankruptcy petition, the company, which has corporate offices in both Lincoln, Nebraska and Atlanta, Georgia, listed both its assets and liabilities as being between $100 million and $500 million. The petition said the estimated number of creditors is between 5,000 and 10,000.
A Chapter 11 bankruptcy filing allows a company the chance to reorganize its finances under a court’s supervision. This is done to allow the company to attempt to stay in business. The Journal Star reports that RMH isn’t planning any restaurant closures during the bankruptcy process. The Emporia Applebee’s is one of 163 restaurants owned by the franchise in 15 states.
Applebee’s has struggled over the past few years. Just last year, its parent company Dine Global Brands closed 100 locations and said it planned to close another 60 to 80 this year.
KVOE has reached out to RMH Franchise for comment, but messages have not been returned.
