PHOENIX—Five Valley Applebee's Neighborhood Grill and Bar restaurants were shuttered this week after a deal failed to come to fruition.
Applebee's are 99% franchisee owned, according to Applebee's spokesperson Dan Smith. One franchisee group, Kentucky-based Thomas and King, sold 78 restaurants across four states to another franchisee. But the deal ultimately didn't include nine restaurants, five of which are located in the Phoenix area. Thomas and King then chose to close those restaurants.
According to Smith, the new owner, RMH Franchise Corporation of Nebraska, will offer employment opportunities for those who worked at the closed Applebee's. An estimated 125 workers are affected. There are 19 remaining Applebee's in the Valley.
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