The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Hotel / Restaurants Accommodation And Food Service Activities Food And Beverage Service Activities 56.1 - Restaurants and mobile food service activities
150 jobs Number of planned job losses
Announcement Date
15 July 2011
Employment effect (start)
15 July 2011
Foreseen end date
20 July 2011
Description
Applebees, one of the largest casual dining chains in Greece has shut down and 150 employees remain jobless.
Greek press reports confirm that on July 19th, Applebee's chain of restaurants, operated by Milomel Hellas, shut down all of its 6 restaurants in Greece (Athens and Salonika), after 15 years of operation. The chain was earlier forced to close two more of its restaurants in 2009 in Athens and Thessaloniki due to social unrest and fires. In 2009 the chain showed a drop in turnover to 9.53 million euros from 11.74 million in the previous year, while its net results had shown losses of 924,000 euros, against earnings of 18,000 euros in 2008.
Sources
19 July 2011: To Vima
15 July 2011: Kathimerini
Citation
Eurofound (2011), Applebee's, Closure in Greece, factsheet number 72204, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72204.
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