Neighborhood Restaurant Partners of FL (NRPFL) operated 53 Applebee’s Neighborhood Grill + Bar® restaurants across Florida, Georgia, and Alabama, and under Argonne Capital Group was once ranked among the largest Applebee’s franchise platforms in the country. Commodity inflation, rising labor costs, and weaker Florida tourism pressured margins and liquidity.
SC&H Capital was retained to run a comprehensive market test and execute a sale under Chapter 11
§ 363. After contacting an exhaustive list of strategic and financial buyers and managing a complex, court-supervised process, SC&H sold the business to Dine Brands Global, Inc., who was uniquely positioned as franchisor to acquire the restaurants, preserving more than 2,000 jobs and delivering recovery to secured creditors.
