Applebee's says it's closing about 80 locations less than a year after announcing over 100 closures

Posted at 1:13 PM, Feb 20, 2018

Applebee's announced Tuesday it will close as many as 80 restaurants nationwide as the chain continues to struggle attracting young diners.

The announcement comes after Applebee's parent company, DineEquity, said in August it would close more than 100 restaurants.

It's not clear which Applebee's locations would close, but according to Fortune, remaining locations will be judged on a number of criteria. 

“The expected closures will be based on several criteria, including meeting our brand and image standards as well as operational results,” DineEquity told Fortune in a statement.

DineEquity also announced it would close up to 40 IHOP locations, though it plans to open as many as 100 new locations of the breakfast chain throughout the country.

DineEquity's stock has soared since the announcement, rising nearly 20 percent on Tuesday.

Alex Hider is a writer for the E.W. Scripps National Desk. Follow him on Twitter @alexhider.