IHOP and Applebee’s to close restaurants

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(NBC) - Several Applebee's and IHOP restaurants could soon be closing.

DineEquity which is the parent company of the two restaurant chains says its plans to close as many as 160 of the restaurants.

But at the same time, the two chains will open 125 restaurants globallly in new locations.

The move comes as more American consumers have been drifting toward quick service restaurants over casual dining.

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