Move part of ongoing strategy to turn the chain into a mostly franchised brand
Applebee’s Neighborhood Grill & Bar is terminating the lease for its Lenexa, Kan., headquarters and planning to relocate to a smaller facility, a move that will allow the company to cut debt by about $34 million. Parent company DineEquity announced late Monday it had reached an agreement with landlord Lexington LAC Lenexa LP, an affiliate of Lexington Realty Trust, to end the lease for the Applebee’s restaurant support center. The chain’s 350 employees there will be ...
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