Tim Hortons
Tim Hortons has more than 4,800 stores around the world and is one of the fast-food joints that made a list for store closures for 2020. With headquarters in Toronto, Canada, it is the largest fast-food chain in Canada and was established by hockey player Tim Horton and Jim Charade in 1964 in Hamilton, Ontario. At first, the restaurant was a hamburger joint but then transformed preparing coffee and donuts. The changes and developments throughout the years helped them in succeeding and becoming a multi-billion-dollar company. However, the glory didn’t go far as they were hit with lots of hardship and had to close a lot of their doors. Also, Tim Horton, located in Dayton, Ohio, had to close its doors as well.
Tim Hortons
Applebee’s
Applebee’s is the sister company for IHOP, which was also featured earlier on this list and would be closing a lot of their stores, which are not contributing much to its revenue growth. As of early 2020, there were over 1,800 Applebee’s restaurants stretched across the US, Puerto Rico, and fifteen other countries around the world. Most of the branches are franchises, with only 70 of the total number being company-owned. They are an auxiliary company for DineEquity and recently moved its headquarters to Glendale. Steven Layt, the former president of Applebee’s, decided he would not relocate and decided to resign instead. The company earns an annual profit of about $2.5 billion, more than 28,000 employees, and an average of $935 million in assets.
Applebee’s
