BUSINESS

Applebee?s restaurants closing down in Greece

Reports suggest that the Applebee?s chain of restaurants has shut down all its restaurants in Greece, operated by Milomel Hellas.

The chain had six restaurants in Athens and Thessaloniki but was forced to close two of them in 2009, saying they had been hurt by social unrest and fires.

In the last couple of years it had continued to operate two restaurants, on Alexandras Avenue in Athens, as well as Kifissia, Glyfada and Thessaloniki, which it is now said to have permanently closed down.

In 2009 the chain showed a drop in turnover to 9.53 million euros from 11.74 million in the previous year, while its net results had shown losses of 924,000 euros, against earnings of 18,000 euros in 2008.

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