Owner of 3 NE Kansas' Applebee's declares bankruptcy
The owner of three northeast Kansas Applebee's locations has filed for bankruptcy Tuesday morning, court documents indicate.
RMH Franchise Holdings, Inc., which owns 163 Applebee’s in 15 states, filed the paperwork for Chapter 11 Bankruptcy in the United States Bankruptcy Court for the District of Delaware.
- Topeka - 5928 SW 17th Street
- Manhattan - 100 Manhattan Town Center
- Emporia - 2901 Eaglecrest Drive
According to court documents, RMH listed the estimated number of creditors at 5,001 – 10,000, and estimated liabilities at $100 million - $500 million.
In addition, affiliates RMH Franchise Corporation, NULnk, Inc., RMH Illinois, LLC, and Contex Restaurants, Inc. filed for relief under RMH Franchise Holdings, Inc., the documents state.
All RMH locations are currently operating as normal.
'RMH’s Applebee’s locations are open for business and we are excited to continue serving our guests in all our neighborhoods," Brand Manager Robin Jenkins said.
Chapter 11 Bankruptcy, which is often referred to as reorganization bankruptcy, gives a corporation a chance to reorganize and stay in business without putting the assets of the stockholders at risk.