Parent Company of Wichita Falls’ Applebee’s Files Bankruptcy
The franchisee who owns fifteen Applebee’s locations across Texas plus another 148 locations in fourteen other states has filed for chapter 11 bankruptcy protection.
RMH Holdings, the second largest franchise owner of Applebee’s branded restaurants in the U.S. filed for bankruptcy protection on Tuesday in Delaware. According to The Lincoln Journal Star, in the filing, RMH lists assets and liabilities of $100 million to $500 million and between 5,000 and 10,000 creditors. No other specifics on the bankruptcy were readily available.
According to a spokeswoman for RMH Franchise, all of the locations will remain open during the bankruptcy process.
The Wichita Falls Applebee's is one of the fifteen Texas locations owned by Lincoln, Nebraska-based RMH. The others are in Amarillo, Lubbock, Corpus Christi, Portland, Edinburg, McAllen, Weslaco, Bob Bullock, Harlingen, Boca Chica, Laredo, and Palmhurst. They also operate six restaurants in Oklahoma - Lawton, Duncan, Altus, Ardmore, Ada, and Durant.
While the ultimate fate of any of the TX/OK locations is not yet clear, the company has reportedly closed 10 restaurants in the past three years.
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