Is a restaurant recession in our near future? With overall sales declining and more customers opting for takeout and delivery, it’s no wonder we see many of our favorite, time-honored restaurants hitting the panic button. Restaurants are struggling to attract customers. When customers do sit down to a meal, they prefer trendy, local spots. Some franchises, such as Red Lobster, are winning the battle, while others are on the brink of collapse. Read on for 15 restaurants that might not be around much longer.
DineEquity is in for a rough year, as both Applebee’s and IHOP saw sales dip in 2016. Applebee’s took the cake, as sales dropped a staggering 5%. It’s struggling to attract customers to an industry where fewer families are eating out. As a result, it’s expected to close around 60 restaurants in 2017 to account for continued troubles.
Next: Why profits aren’t exactly bloomin’…