3 a.m. bankruptcy filings, unpaid millions, and IHOb burgers: Inside the $23 million battle raging within Applebee’s (DIN)

Applebee's 15Hollis Johnson/Business Insider

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  • Applebee’s parent company, Dine Brands, and its second-largest franchisee, RMH Holdings, are battling in court, with Dine Brands attempting to take control of dozens of the franchisee’s restaurants. 
  • RMH controls more than 140 Applebee’s locations and filed for bankruptcy in May, blaming Dine Brands’ “ill-advised and value-destroying” decisions for struggling sales and millions of wasted dollars.
  • The franchisee filed for bankruptcy at 3:30 a.m. on May 8, just hours after Dine Brands’ CEO issued an ultimatum: send $ 12 million in unpaid royalties by the end of the day, or lose your restaurants.
  • Dine Brands claims that RMH owes the company more than $ 23 million in unpaid and lost future royalties and other fees. 

There’s a battle raging within Applebee’s. 

On one side is the chain’s parent company, Dine Brands. On the other is Applebee’s second-largest franchisee, RMH Holdings, which filed for bankruptcy earlier this year — at 3:30 a.m. on Tuesday, May 8, to be exact. 

See the rest of the story at Business Insider

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Post Author: martin

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Martin is an enthusiastic programmer, a webdeveloper and a young entrepreneur. He is intereted into computers for a long time. In the age of 10 he has programmed his first website and since then he has been working on web technologies until now. He is the Founder and Editor-in-Chief of BriefNews.eu and PCHealthBoost.info Online Magazines. His colleagues appreciate him as a passionate workhorse, a fan of new technologies, an eternal optimist and a dreamer, but especially the soul of the team for whom he can do anything in the world.

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