DineEquity, Inc. (DIN)

Apple Gold Group quietly closing some Applebee’s locations, likely to close more

The Apple Gold Group of Raleigh has been quietly shutting down underperforming Applebee’s restaurants across its footprint in seven states over the past year. “For all retail – and casual dining restaurants specifically – it’s been tough going these last couple of years,” says B.J. Stolz, general counsel and vice president of development at Apple Gold Group, the third largest franchisee ownership group in the Applebee’s restaurant chain. Applebee’s, the brand, is owned by California-based DineEquity (DIN), which also owns the IHOP restaurant chain.