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Restaurants

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Business & Lifestyle

Up to 160 Applebee’s, IHOP restaurants to close

GLENDALE, Calif. (UPI) -- The parent company of Applebee's and IHOP announced Thursday it intends to close up to 160 locations of the restaurants amid slumping sales. DineEquity said it will close 105 to 135 Applebee's restaurants, up from the 40 to 60 it initially planned to shutter. Another 20 to 25 IHOP restaurants will close, up from 18. "We'll be aggressive with restaurant closures this year," Applebee's brand president, John Cywinski told investors Thursday. "These restaurants need to close and perhaps should […]

todayAugust 10, 2017 27

Business & Lifestyle

McDonald’s plans 2,000 new restaurants in China by 2022

OAK BROOK, Ill. (UPI) -- McDonald's announced plans Tuesday to increase the number of restaurants in China from 2,500 to 4,500 within five years. The company also announced completion of a partnership deal with Citic and Carlyle to sell a controlling interest in the fast-food company's China and Hong Kong operations for 20 years. That makes it the largest franchise outside the United States. In January, McDonald's announced plans to sell 80 percent of its holdings in mainland China and Hong Kong for […]

todayAugust 8, 2017 41

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