RMH Franchise Holdings, which owns the North Platte Applebee’s and several others in Nebraska, declared bankruptcy Tuesday morning.
RMH filed for Chapter 11 reorganization bankruptcy protection in Delaware. The restaurants will remain open during the process.
RMH owns Applebee’s in Lincoln, Columbus, Grand Island, Hastings, Kearney, North Platte, Scottsbluff, Sidney and York and a total of 167 restaurants around the country, according to the initial filing. The number of estimated creditors is between 5,000-10,000.
A Chapter 11 bankruptcy filing gives a company a chance to reorganize its finances under the supervision of a bankruptcy court, so the troubled company can try to stay in business.
The initial filing contains only general financial information. More precise information will be required.