Applebee’s Parent Starting Bid Approved for Bankrupt Restaurants

Applebee’s and IHOP’s parent company won court approval to start bidding for the assets of a bankrupt Atlanta-based operator of 53 Applebee’s franchises.

Dine Brands Global Inc.'s $17.8 million baseline bid to acquire the Applebee’s Neighborhood Bar & Grill franchises of NRPF Group Two LLC was approved at a hearing Friday by Judge Sage M. Sigler of the US Bankruptcy Court for the Northern District of Georgia.

Sigler overruled an objection from secured lender Equity Bank and unsecured creditors over an expedited sale timeline. The operator has sued Equity Bank to avoid the lender’s liens on personal property assets, arguing ...