Applebee’s franchisee files bankruptcy putting 14 restaurants in jeopardy – with owner drowning in $8.3 million debt ...Middle East

A MAJOR franchisee of a popular restaurant chain has filed for bankruptcy placing more than 10 restaurants under threat. Louisiana Apple, the franchisee of 14 Applebee restaurants in several states, has been hit with a lawsuit by its creditor after it failed to make repayments on a $7.1 million loan. GettyA major Applebee’s franchisee is facing bankruptcy placing 14 restaurants at risk[/caption] The creditor, City National Bank, is seeking to have the restaurants transferred to other owners affiliated with Applebee’s and is suing the franchisee over about $8.3 million in debt. The franchisee operated 14 restaurants in a number of states including Arkansas, Kentucky, Okl

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