Two Popular Chain Restaurants Closing Some Locations
*NOTE: No word on if Iowa locations will be affected.
The pandemic has had a significant financial impact on businesses all across the country. Restaurants were among those businesses that took the hardest hit. Now two popular restaurant chains will be closing up to 100 locations, according to a report from KWQC.
Dine Brands, the company that owns both IHOP and Applebee's, announced that they will be permanently shutting down stores partially due to the financial impact of the coronavirus pandemic. There aren't too many specifics on how many stores of each restaurant will be shut down, but the report states that roughly 15 Applebee's could close.
There are two Applebee's restaurants and one IHOP here in Cedar Rapids. There is no word yet on if any of those stores will be affected. But, we should know something soon, as closings are expected to take place over the next six months.
Restaurants aren't the only businesses closing up shop. Just this week the Stoney Point YMCA announced they are up for sale due to financial troubles from the pandemic. They didn't have the membership numbers to sustain their bottom line, and the fact that gyms were shut down for a while because of the pandemic didn't help.
As we near the end of the year, let's hope things start to shape up for our businesses (and life in general) in the new year.