Applebee's announced it will close 60 to 80 restaurants this year.
Dine Brands Global, the restaurant's parent company, also announced it plans on closing 30 to 40 IHOP restaurants as well, according to Fox Business.
Dine Brands Global has not yet announced which locations will be closing.
Applebee's has six metro-east locations, in Swansea, Shiloh, Collinsville, Glen Carbon, Granite City, and Waterloo, along with four St. Louis locations. IHOP has five metro-east locations, in Belleville, O’Fallon, Glen Carbon, Wood River and Alton, along with six St. Louis locations.
IHOP is planning to open 85 to 100 locations and Applebee’s also plans to open 10-15 new locations in 2018, according to the company's earnings release from Feb. 20.
Officials said the closings will be based on several criteria, including the profitability of locations, their operational results and whether they meet the company’s quality standards.
Last year, 99 Applebee's locations and 23 IHOP restaurants closed and in 2016, 46 Applebee's restaurants and 16 IHOPs were shut down. According to Fox Business, the company said they are working on initiatives to expand revenue and look into global markets.
"We continue to make excellent progress against our plan to stabilize and grow performance at both brands," Stephen P. Joyce, CEO of Dine Brands, told Fox Business.
In the 2017 fiscal year, the company lost $324 million compared with a net income of $96.6 million in 2016.
Kaley Johnson: 618-239-2526, @KaleyJohnson6