OVERLAND PARK, Kan. Applebeeâ€™s International Inc. said it is closing 24 of its 528 company-operated namesake restaurants to bolster earnings and cash flow and improve returns on invested capital. Ten of the stores are located in New England, a notoriously difficult market for many restaurant chains. The company said it expects to take a pre-tax charge of $13.5 million to $15.5 million for the first quarter for the closures. The contraction will also cost $9.5 million to $12.5 million ...
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Contact: Desiree Torres Desiree.Torres@penton.com