This LA-based Applebee’s Franchisee Filed for Bankruptcy

This LA-based Applebee's franchisee filed for bankruptcy.Photo byMelinda Gimpel/Unsplash

According to a new report by Restaurant Dive, a LA-based Applebee's just recently filed for bankruptcy. According to the report, Louisiana Apple filed for bankruptcy protection.

The filing comes after the franchisee was sued by one of its creditors, the City National Bank of Florida. The company has $8.3 million in debt with the bank. According to the lawsuit, City National Bank said that the franchisee of fourteen restaurants "transferred to other owners affiliated with Applebee's".

Louisiana Apple operated 14 restaurants in Arkansas, Kentucky, Oklahoma, and Indiana. The company borrowed $7.1 million from CNB in 2020 and has failed to make any payments on the loan.