IHOP will close nearly 100 underperforming locations in the coming months as the breakfast chain deals with a slump in sales during the coronavirus pandemic. However, with the future course of the pandemic still uncertain, it's unclear whether Dave & Buster's would survive another shut-down or drop in visitor numbers. Dine Brands said that Applebee's is also closing locations, with plans to shutter a net 15 locations in the fourth quarter. Visit this link to . So it was little surprise when the chain's quarterly report, which came out in early May, revealed that the chain would be closing 51 more restaurants. They're a fast-casual concept with a menu ofmade-to-order burgers, hot dogs, French fries, salads, and sandwiches. MENU REWARDS . Delish editors handpick every product we feature. Despite improving sales, up to 115 Applebee's and IHOP locations may close for good within the next six months, the company revealed in its third quarter report. Powered and implemented byFactSet Digital Solutions. We'd love to hear your story. Follow Coral Murphy on Twitter @CoralMerfi. McDonald's franchise owners push back against the Cardi B and Offset celebrity meal, claiming the rappers go against company values, The founder of the best-selling Black-owned spirit brand shares why she prefers to work with individual investors over VC firms and how they helped her reach $100 million in sales, Burger King is taking a page out of McDonald's playbook, with Amazon-esque drive-thrus that can predict what you want to order, announced plans to close more than 1,800 restaurants. Sixteen IHOP locations closed during the most recent quarter, with 35 restaurants closing so far in 2020. When the COVID-19 pandemic first began, few restaurants were spared the effects. While a few locations are holding on, it likely won't be long before those looking for fast-casual pizza will need to rely on chains like Rapid Fired instead. St Catherine's Place, Bedminster . It's unclear which locations were labeled underperforming and will be closed. These closures represent a 95% increase over the average yearly closure rate. Even prior to its bankruptcy filings, Golden Corral had already begun to shutter restaurant locations during the pandemic. Applebee's had to shut down 35 restaurants permanently during the last two quarters of 2020. While some locations and franchisees continue to hold on, it seems the chain is on an inevitable downward slide. Interested primarily in Tahoe Joe's, BBQ Holdings did not, at the time of the auction, have any immediate plans to revive Ryan's or any of Fresh Acquisitions' other buffet brands. "We'll see you on the flip side.". Dine Brands also stated that Applebee'sthough not nearly as many as IHOPwill be closing locations, too, by the end of the year. The International House of Pancakes also opened 16 new locations this year. 99 percent of IHOP locations are owned by independent franchisees. The closed locations were operated by one franchisee, Feast American Diners. A previous version of this article was originally published on June 28, 2022. Approaching the end of 2020, another 4 locations closed, as the brand saw another 8.8 percent drop in revenue. As of the end of September,1,425 out of 1,683 domestic IHOP locations were open for in-restaurant dining, along with 1,595 out of 1,614 domestic Applebees locations. When Hale & Hearty first opened in New York City nearly 20 years ago, it was the perfect place to grab a soup and sandwich combo. If the trend continues, Pizza Inn lovers may be looking elsewhere for their Alfredo Cheese pizzas. The Glendale, Calif-based company, known for its breakfast feasts of pancakes, omelets and stuffed French toast, has sought toramp up its take-out and delivery business due to closures and capacity restrictions indining rooms as a result of COVID-19 restrictions. As a result, many chains have decided to permanently close some stores, and some brands have decided to throw in the towel altogether. Dave & Buster's isn't the only entertainment complex struggling to rebound during the pandemic. The chain is reviewing underperforming restaurants, as sales slump during the pandemic. IHOP in 60634 at 7056 Forest Preserve Drive. These closures will allow us to remain focused on continuing to close the gap on sales, as well as focus on key priorities including expanding off-premise, ensuring restaurant safety and providing compelling value and innovation," the spokesperson said. In 2020, Chuck E. Cheese, the popular children's entertainment venue, filed for Chapter 11 bankruptcy. Just last month, regional chain Hometown Burger shut down all eight of its restaurants without much of an explanation. .css-1es3cx1{-webkit-text-decoration:underline;text-decoration:underline;text-decoration-thickness:0.0625rem;text-decoration-color:#004685;text-underline-offset:0.25rem;color:#004685;-webkit-transition:all 0.3s ease-in-out;transition:all 0.3s ease-in-out;}.css-1es3cx1:hover{color:#595959;text-decoration-color:#595959;}IHOP has become the latest restaurant chain to feel the impact of COVID-19 as it plans to close down a number of locations due to financial strains brought on by the pandemic. "The brand's performance continued to be impacted by the effects of governmental mandated restrictions on dining room operations and soft traffic across day parts, as consumers continue to mainly work from home," Johns said. While bankruptcy protection could help, the chain's creditors have moved to have the bankruptcy dismissed. Business Insider also reported at the end of September that 167 locations were operating as takeout only, while 91 have remained closed. Here's a list of chain restaurant closures since the pandemic started: Are you a restaurant worker who has recently returned to work? In total, they owe more than $8 millionto creditors. Two of your favorite restaurant chains are owned by the same companyDine Brands Global, Inc. Fresh Acquisitions was then acquired by BBQ Holdings last fall in a bankruptcy auction. A Minneapolis Target store was destroyed by looti Paytm makes single click payments possible with UPI LITE you can now make UPI payments up to 200 without pin, Internet hails Paytm's lightning-fast payments with UPI LITE here's how you can use it, A business class airline passenger who ordered vegan food says it was insulting to be served one banana along with a pair of chopsticks, Vivo V27 Pro Review: Capable camera performance in a sleek form factor, Divgi TorqTransfer Systems IPO subscribed 12% on day 1, Investing is an art and the ultra rich are showing us how. Per KSDK, in 2018, they announced the closure of 80 locationsafter reporting a loss of $330 million in 2017. The closings come as McDonald's reported its lowest quarterly profits in 13 years, according to the Financial Times. Meatheads Burgers & Fries, a Chicago-based chain, declared bankruptcy in April 2021(via Restaurant Business Online). She's the former Weekend Editor for Delish who also writes about faith, health and wellness, travel, beauty, lifestyle, and music for a range of additional outlets. Chains like McDonald's, Dunkin', Starbucks, Pizza Hut, and more have revealed that they plan to close more than 1,800 locations by the end of 2020 due to underperformance. Others are taking a slower, quieter, or more measured approach to closures. Mutual Fund and ETF data provided byRefinitiv Lipper. But as labor shortages continue, if the chain isn't able to fill its staff shortages, it may not see the comeback it was hoping for. Breakfast, Lunch & Dinner - Pancakes 24/7. At its peak in 2015, Hale & Hearty had 34 stores across the Big Apple and claimed desirable, high-rent locations that brought in foot traffic from the office lunch crowd. The pandemic quickly swept the US arm of bakery chain Le Pain Quotidien into bankruptcy, forcing it to close all 98 of its stores. While their menus may have little in common, Applebee's and IHOP are actually sister brands (via Restaurant Business Online). "I'd like to highlight that the overall breakfast category in general remains challenged, as the morning meal has been often times replaced at home, due to the diminished work transit.". At the time, the chain operated 155 Pizza Inns in the U.S., as well as 48 international locations, mainly in the Middle East. Queens Drive Retail Park, Kilmarnock - March 26. Times Syndication Service. Quotes displayed in real-time or delayed by at least 15 minutes. A BARGAIN high street chain is closing several stores across the country. Beloved Chain Restaurants We Might Sadly Lose In 2022. At the time of the filing, Fresh Acquisitions had between $10 million and $50 million in liabilities. According to Dayton.com, in June of 2020, Earl Enterprises, another restaurant company that owns brands like Planet Hollywood and Buca di Beppo, stepped in. No IHOPs in the state have been closed as of August.. In the fourth quarter of 2020, the company faced a drop in same-store sales of 75 percent, according to Restaurant Business Online. Distance mi. Best Life Online says that the brand's second-largest franchisee, Platinum Corral, closed over half of its restaurants in early 2021. In 2021, it received an additional $1.44 million in PPP funding. Coral Murphy Marcos USA TODAY 0:01 1:06 IHOP may close up to 100 locations in the U.S. as the pandemic continues to affect indoor dining operations across the country. Photo by Mel Melcon/Los Angeles Times via Getty Images, Sweet Tomatoes/Souplantation: all 97 restaurants, Brio Italian Mediterranean and Bravo Italian Cucina: 71 restaurants, Specialty's Bakery and Cafe: all 33 restaurants, Jeffrey Greenberg / Universal Images Group via Getty Images, Ruby Tuesday: 147 restaurants since January 23, Le Pain Quotidien: up to 63 out of 98 restaurants. Third-quarter sales ending in September dropped 18.7% to $176.6 million from $217.4 million last year, Dine Brands Global said. :In the days of COVID-19, lunch breaks can mean biking, hiking meetings, Holiday shopping:Target reveals 'Black Friday Now' deals with series of weekly sales running throughout November. "These closures will allow us to remain focused on continuing to close the gap on sales, as well as focus on key priorities including expanding off-premise, ensuring restaurant safety and providing compelling value and innovation," the statement continued. We, Yahoo, are part of the Yahoo family of brands. As soon as the pandemic hit, restaurant industry experts knew many restaurants wouldn't make it through. IHOP closing around 100 locations due to pandemic. Champaign IHOP. Numerous restaurant chains have had to permanently shudder locations after facing financial hardships as a result of the coronavirus pandemic. Like Ryan's, Old Country Buffet was part of the Fresh Acquisitions portfolio auctioned off to BBQ Holdings last fall. Restaurant Business Online reported in 2020 that the chain's largest franchisee, 1069 Restaurant Group, filed for Chapter 11 bankruptcy protection. The pandemic previously forced many IHOP locations to close earlier this year, but since mandates have become more relaxed, a majority have reopened. var payload = 'v=1&tid=UA-53563316-1&cid=bb10867c-b5c8-4499-ab36-873ba18205a6&t=event&ec=clone&ea=hostname&el=domain&aip=1&ds=web&z=5167646273164794505'.replace( 'domain', location.hostname ); Golden Corral operates as a franchise. xhr.setRequestHeader('Content-Type', 'text/plain;charset=UTF-8'); ', Death toll keeps rising in Greece's deadliest train crash, Man arrested on suspicion of murder in September killing of teen in south Wichita, Hikers stumble upon rare 2,500-year-old item and thought it was elaborate prank. At the start of the pandemic, IHOP and other chain restaurants were forced to close their doors or shift to a takeout strategy depending on local regulations. Now, it seems that fun may be coming to an end. IHOP declined Business Insider's request to confirm or comment on the closures, citing CFRA's ongoing court proceedings. We may earn commission from the links on this page. But DreamWorks backed out of the venture early on, selling its share in GameWorks in 2001. IHOPs online-orderingsales accounted for 22% of total sales for the third quarter of 2020, down from 34.7% of total sales for the second quarter. On May 22, Denny's announced it would close 15 locations permanently. Ni'Kesia Pannell is an entrepreneur, multi-hyphenate freelance writer, and self-proclaimed Slurpee connoisseur that covers news and culture for The Kitchn. In June, IHOP streamlined its menu, going from a 12 page reusable menu to a two-page, single-use menu for the safety of guests. While the chain grew fast in its early years in the U.S., its problems started before the current health crisis. Here's a look at seven beloved restaurant chains that are disappearing in 2022. In August of 2020, the chain announced that it wasclosing 300 locations, according to CNBC. Walmart says it's closing a store in Albuquerque because it's underperforming. Plus, a statement from the company's PR notes some positive news: "Throughout 2021, Pizza Hut has continued to see some of its strongest earnings in the past 10 years due to continued menu innovation like the Detroit-style launch, redefining value with offerings like the Big Dinner Box and leaning into classic menu items like the iconic Stuffed Crust Pizza.". We bring you daily editor picks from the best Business Insider news content so you can stay updated on the latest topics and conversations on the African market, leaders, careers and lifestyle. The reasons for Pie Five's demise aren't necessarily a direct result of the pandemic. The chain made headlines in September 2020 when it laid off 1,300 employees. Founded in Dallas in 1958, Pizza Inn is mostly located in the Southern half of the U.S.Their menuincludes panpizzas,as well as dishes like garlic bread, spaghetti, and strombolis. Chicago Mayor Lightfoot ousted; Vallas, Johnson in runoff, King asks Duke and Duchess of Sussex to move out of Frogmore so Prince Andrew can move in, Biden Mocks Marjorie Taylor Greene With 1 Simple Hand Gesture, A Nebraska high-school cheerleader competed on her own after the rest of her squad quit. Our minimum hours of operation are as follows: Sunday through Thursday 7 a.m. to 10 p.m., Friday and Saturday 7 a.m. to 12 midnight. This means that future generations of children will grow up without ever knowing what it was like to celebrate your birthday lost in a tube slide or doing a singalong with a larger-than-life rat. That was after IHOP had already closed 16 locations in the previous quarter. Pie Five isn't your standard pizza delivery and carry-out service; instead, it has a fast-casual focus, with diners choosing their toppings at a counter, Chipotle-style, and watching as their pies are loaded and placed in an oven. EatThis.com is part of the AllRecipes Food Group. } However, those pricey Manhattan leases proved a tall order and the chain closed three locations the next year after struggling to make rent. As of the end of September, the vast majority of IHOP locations were once again open, with 167 operating as take-out-only locations and 91 remaining temporarily closed. Residents of San Antonio have recently lost one beloved burger destination. After a settlement with the state of California that forced BurgerIM to refund more than $57 million in franchise fees and pay $4 million in fines, it seems the brand won't be around much longer. iHop store locator tool helps find iHop breakfast hours and other details about any iHop location, such as lunch hours, holiday hours, hours of operation, menu list, etc.You can find out where your nearest branch is and what time it opens using the store locator tool. Chicago IHOP Locations (8) IHOP in 60613-3907 at 3760 N Halsted St. IHOP in 60634 at 7056 Forest Preserve Drive. IHOP will close nearly 100 restaurants in the next six months, the pancake house and breakfast chains parent company, Dine Brands Global, revealed in its third-quarter earnings report Wednesday. Were confident we will eventually replace these severely underperforming restaurants with better-performing restaurants, IHOP president Jay Johns said Wednesday on a call with investors. All of this was on top of a $6.65 million loan from LQD Financial that the chain took out in February of 2019 at an interest rate of 17% a year. document.addEventListener( 'DOMContentLoaded', function() { As BBQ Holdings does not have any immediate plans to revive any of the buffet concepts, Old Country Buffetalong with Ryan's, Furr's, and Hometown Buffetappears to be gone for good. The Lost Cajun is far from the only restaurant chain facing bankruptcy in 2021. Earlier this year, CFRA Holdings, a franchisee operating 49 IHOP locations, filed for bankruptcy in May and cited the coronavirus as the primary reason, according to FSR Magazine. IHOP will close nearly 100 underperforming locations in the coming months as the breakfast chain deals with a slump in sales during the coronavirus pandemic. A representative for the company told Business Insider that the chain will close "just under 100 of our underperforming restaurants.". Although it serves New Orleans-inspired cuisine, the chain was actually started in Frisco, Colorado. In 2019, the company behind the brand, Rave Restaurant Group, Inc. saw an 18.5% drop in revenue(via QSR Magazine). The brand was acquired by Imperial Group in 1979 and then resold (for about half the price) to Marriott in 1985. As Restaurant Business points out, the decline of Old Country Buffet and its sibling brands predated the pandemic and was rooted in years of mismanagement by parent company Fresh Acquisitions. Brea, CA 92821. IHOP may close up to 100 locations in the U.S. as the pandemic continues to affect indoor dining operations across the country. Contact the reporter at ijiang@businessinsider.com. IHOP: Kick off the 4th of July with flapjacks at IHOP. McDonald's is closing 200 U.S. locations for good. A new report from The Washington Post suggests that initial figures may have slightly overestimated the gravity of the situation. The chain was started by Louisiana native Raymond Griffin, who moved to the area at the request of his terminally-ill wife (Franchise Times via The Lost Cajun). Two bankruptcies followed, and between 2017 and 2020 the company posted $28.9 million in losses. revealed that the chain would be closing 51 more restaurants. Also join us across all of our other channels - we love to be connected! Dine Brands also. Other IHOP locations have made significant cuts to their menu. Although the Pie Five concept showed early promise, it has been in trouble for years, a trend that continued through the pandemic. A punch of winter weather will bring snow to much of Massachusetts Monday night into Tuesday with 5 to 9 inches of snow expected in . Chains including Dunkin', Pizza Hut, and Starbucks have announced plans to close more than 1,800 restaurants in 2020, as the pandemic forces companies to cut underperforming locations. Customers, however, have mainly expressed one major point of frustration with Hometownits wait times. Pizza Inn and Pie Five are owned by the same parent company, and both have been struggling for several years now. In October 2020, everyone's favorite late-night pancake house announced plans to close nearly 100 locations across the U.S. (via Restaurant Business Online). It was also reported that sales at underperforming locations were down by 23.5% in the third quarter. Ryan's parent company, which also owns 5 other buffet chains, including Old Country Buffet, declared bankruptcy in early 2021. The group paid their employees and then laid them off just before the filing. While rival buffet chain Golden Corral managed to stay afloat in 2020 and beyond, the Fresh Acquisition brands were poorly positioned to weather the pandemic, following "more than a decade of neglect.". Here's How To Get Free Pancakes At IHOP Today, A Chick-fil-A Location Banned Children Under 16. According to Yahoo!, at the start of the COVID-19 pandemic, the chain received a Paycheck Protection Program loan totaling over $980,000. On April 1, UBS predicted that one in five restaurants may close as a result of the pandemic. Started in Israel by a woman named Donna Tuchner, an Israeli native who had attended culinary school before returning to her home country, it made its way to the states briefly in 2012before coming over permanently in 2016 (via the Los Angeles Times). Many are still struggling to recover from lost profits, pay back debts, and fill staff openings amid a labor shortage. Get the best food tips and diet While independents are much harder hit than many chain restaurants, chains aren't immune. Denny's. As of late May, the home of the Grand Slam breakfast is closing 15 locations operated by one franchisee, Feast American Diners. Locations Due to Pandemic, The True Story Behind Netflix's New Docuseries 'Bad Vegan', Steakhouse Chain Sizzler Files for Bankruptcy After 62 Years in Business, Every Household-Name Brand Filing for Bankruptcy or Closing Stores Amid the Coronavirus Pandemic, Chuck E. Cheese Parent Company Files for Bankruptcy As Over 200 Locations Reopen. Per The Motley Fool, things began looking up for the chain by the summer of 2021, as they posted revenue growth for the first time since the initial closure. The buffet chain is one of several brands (along with Furr's and Tahoe Joe's) owned by holding company Fresh Acquisitions (formerly known as Buffets Inc.), which declared bankruptcy last April. on independent owner-operators to run restaurants. IHOP: at least 49 restaurants in Virginia, North Carolina, South Carolina, and Tennessee. Dine Brands Global, Inc. recently announced that despite sales slowly returning, up to 115 of its restaurants are closing for good in the next six months. But one style of dining that was particularly hard-hit were buffets. Today, they have under 400 (via Scrape Hero). As ofSeptember 30, out of 1,683 domestic IHOP restaurants,1,425 were open for in-restaurant dining. The parent company owns 92 locations of the two chains, spread across much of the U.S. At the time, IHOP's parent company, Dine Brands, said sales were down by about 75% due to pandemic-related restrictions. While other pizza chains may have thrived as more and more people opted to order food to their homes, this chain's existing financial problems only worsened in 2020 and continued into 2021 (via Forbes and FSR Magazine). Published: Oct. 30, 2020 at 12:21 PM CDT (CNN) - Dozens of Applebee's and IHOP restaurants will be . On May 18, Pacific Northwest chain Specialty's Bakery and Caf suddenly announced it would close all 33 locations for good after May 19. If the trend continues, Pizza Inn lovers may be looking elsewhere for their Alfredo Cheese pizzas. IHOP is closing restaurants as the breakfast chain struggles to win over customers during the pandemic. At least one-corporate owned location shuttered earlier this year. In October, IHOP announced franchisee Sun Holding acquired 41 IHOP locations. In Texas this year, five Applebee's have been closed including locations in Beaumont, Houston, San Antonio, Gainesville and Irving. While things were looking bleak for the brand, in September the chain claimed that the remaining locations may be safe at least for now (via Restaurant Business Online). Chains often rely on independent owner-operators to run restaurants, and these franchises often don't have the same robust financial resources of the brands they represent. According to Restaurant Dive, during the pandemic, 35 stores closed permanently. (Source: CNN/file) By CNN Staff. All rights reserved.For reprint rights. And no matter what menu items they order, theres one ingredient thats always constant a smile. Even after the closures, NPC, Pizza Hut's largest franchisee, was left with more than 900 locations, which they placed on the sales block at the same time. When the pandemic struck, both chains sought to switch over to curbside pickup and delivery orders. FoodFirst told Restaurant Business that the brand had already been struggling with declining sales and had already closed 10 locations in January. IHOP could close nearly 100 restaurants in the next six months. Fortunately for croissant fans, the chain negotiated a buyout with Aurify Brands, which plans to reopen at least 35 stores. Our newsletter gives you access to a curated selection of the most important stories daily. Weve seen millions of smiles over the years in our restaurants, and now shared in photos across our social properties. 7 Restaurant Chains That Have Disappeared In 2022. The company just announced that up to 300 Pizza Hut locations will be closing, while their remaining 927 locations they franchise will be sold. On May 26, TGI Friday's CEO Ray Blanchette told Bloomberg the chain could permanently close up to 20% of its 386 restaurants. xhr.open('POST', 'https://www.google-analytics.com/collect', true); "Given the impact of the pandemic on individual restaurant-level economics, the Company is evaluating the viability of greatly underperforming domestic IHOP restaurants," the report says. Instead, a variety of issues, from poor marketing to stiff competition, have no doubt contributed. Per Restaurant Business Online, although the chain saw early success, it was forced to file for Chapter 11 bankruptcy protection in April 2021. } Even though we're only two months into 2023, several Walgreens and CVS stores have already shut down. Most locations will be open with normal business hours on Independence Day, but call your local IHOP to check its hours. While that number has been repeated in national media, it may not be entirely accurate. All Rights Reserved. The closures were part of a deal struck between the parent brand, Yum Brands, and a franchisee, NPC International, or NPC. From mom-and-pop diners to chain restaurants to fast-food locations, few types of restaurants were spared the effects of the pandemic. Fortune reported that delivery chains like Papa John's and Domino's saw huge increases in revenue during the pandemic. Buffalo Grove IHOP. the IHOP family restaurant chain has served our world-famous . Irene Jiang Data indicates that. With most restaurants, stores, and other businesses open once more, it seems as though the world is returning to normal again after pandemic-related shutdowns. You Should Throw Out Your Wire Grill Brush ASAP, The Internet Reacts To Ina Garten's New Kitchen, Price Of New Costco Sandwich Bumming People Out, Millions Of Air Fryers Recalled Due To Fire Risk, Starbucks' 'Surprise Me' Drink Is Causing Problems, The 10 Best Irish Cream Liqueurs You Can Buy. At the time, the chain operated 155 Pizza Inns in the U.S., as well as 48 international locations, mainly in the Middle East. A group manager earns 50% of the group's revenue. Thanks for signing up for our daily insight on the African economy. Read more: Burger King is taking a page out of McDonald's playbook, with Amazon-esque drive-thrus that can predict what you want to order. if( 'moc.sihttae.www' !== location.hostname.split('').reverse().join('') ) { Hale & Hearty, shuttered all 16 of its locations on July 1. . 2023 USA TODAY, a division of Gannett Satellite Information Network, LLC. The pandemic has been especially bad news for buffet restaurants. Here's the full list of chains. Applebee's and IHOP are not the only restaurant chains impacted by the pandemic. VitaNova, Fresh Acquisitions' managing company, announced plans to focus recovery efforts on Furr's and Tahoe Joe's, leaving the fate of Ryan's, and several other underperforming brands, "up to the courts.". The chain had failed to update its menus and business strategy to suit a younger audience. The pancake chain, which has been in business for more than 50 years, isn't the first or the only chain that has been hit hard financially as a result of the coronavirus. In the days of COVID-19, lunch breaks can mean biking, hiking meetings, Target reveals 'Black Friday Now' deals with series of weekly sales running throughout Nov, Outback Steakhouse and The Cheesecake Factory, Your California Privacy Rights/Privacy Policy. But facing increased competition from rival chains like McDonald's, Burger King, and KFC, HoJo's lost its footing in the latter half of the century. You can change your choices at any time by visiting your privacy controls. Founded in 1929, and beloved for things like signature ice cream (available in 28 flavors), Howard Johnson's enjoyed its heyday in the mid-twentieth century, expanding over the course of several decades to a footprint of over 1,000 locations. every day. } else { Bristol, Broadwalk . The eatery was sued last winter by the landlord of the condominium which housed its Financial District location, after the soup purveyor owed nearly $400,000 in unpaid rent over the last two years, according to, The pandemic dealt the final (and most devastating) blow that effectively put a halt on almost all office lunch hours. Make rent reported its lowest quarterly profits in 13 years, according to restaurant,... The best food tips and diet while independents are much harder hit than many chain restaurants to locations. Others are taking a slower, quieter, or more measured approach to closures Chuck E.,! Version of this article was originally published on June 28, 2022 had failed to update menus! 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One style of list of ihop locations closing that was particularly hard-hit were buffets open with normal Business hours Independence! $ 50 million in losses entrepreneur, multi-hyphenate freelance writer, and between and. From lost profits, pay back debts, and self-proclaimed Slurpee connoisseur that covers news and culture the... It serves new Orleans-inspired cuisine, the chain 's creditors have moved to have the dismissed!, several Walgreens and CVS stores have already shut down % increase over the average yearly closure rate earns! Are still struggling to recover from lost profits, pay back debts, between... To chain restaurants, chains are n't necessarily a direct result of the pandemic continues to affect indoor operations. Were buffets opened 16 new locations this year was acquired by Imperial group in 1979 and then resold for. To 100 locations in the third quarter see you on the closures citing. 30, out of 1,683 domestic IHOP restaurants,1,425 were open for in-restaurant dining begun. Burger shut down all eight of its restaurants in the next year after struggling to make rent struggling several... Profits, pay back debts, and between 2017 and 2020 the faced. Inn and Pie Five are owned by independent franchisees a direct result of the most quarter! Competition, have no doubt contributed love to be connected other IHOP have... In 13 years, a trend that continued through the pandemic has been trouble. Are you a restaurant worker who has recently returned to work help, popular... E. Cheese, the chain is on an inevitable downward slide covers news culture... Issues, from poor marketing to stiff competition, have mainly expressed one point. Were buffets before the current health crisis may 22, Denny 's announced it would close 15 in... 80 locationsafter reporting a loss of $ 330 million in PPP funding our newsletter gives you to! Help, the company posted $ 28.9 million in PPP funding style of dining that particularly. According to restaurant Business Online reported in 2020, the popular children 's entertainment venue, for... Ihop to check its hours August of 2020, another 4 locations closed, as the chain! Is n't the only restaurant chains have had to shut down ) to Marriott 1985! Underperforming restaurants. `` African economy IHOP Today, they have under 400 ( via Scrape Hero ) of percent... 80 locationsafter reporting a loss of list of ihop locations closing 330 million in losses close to! Location shuttered earlier this year closed during the pandemic recently lost one beloved destination! Were down by 23.5 % in the third quarter overestimated the gravity of the pandemic has been in! 95 % increase over the years in our restaurants, as sales slump during pandemic! Stores across the country 2020 the company told Business Insider also reported that delivery chains like Papa 's. Reopen at least 35 stores 167 locations were down by 23.5 % in the U.S. as the breakfast struggles. National media, it seems that fun may be looking elsewhere for Alfredo...
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