OnFocus – Wisconsin Apple, which franchises Applebee’s locations in Wisconsin, filed for Chapter 11 bankruptcy last week. Earlier this year, the chain restaurant was one of six chains considered by S&P Global Market Intelligence at the highest risk of being unable to pay back their debts because of pandemic challenges.
In November 2019, Louisiana Apple LLC, operating as Wisconsin Apple LLC, led by Seenu Kasturi, expanded its franchisee portfolio through the acquisition of 29 Applebee’s restaurants in Wisconsin from Wisconsin Hospitality Group. On October 14, 2020, Wisconsin Apple filed a voluntary petition for Chapter 11 bankruptcy in Louisiana.
At this time, company ownership is not confirming how many individuals will be impacted or the expected outcome of restructuring. It is unclear which restaurants in Wisconsin will be directly impacted, but the Milwaukee Business Journal reported that the filing is expected to directly impact a small number of restaurants in a limited area.
Applebee’s opened its first restaurant in Atlanta in 1980 and is currently owned by Dine Brands Global, a publicly traded food and beverage company based in Glendale, California.
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