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RMH wants to liquidate the portfolio and use the proceeds to ease the financial plight of its owners and creditors. Dine Brands wants to keep that sizeable chunk of the system under the Applebee’s banner, and has painstakingly recounted the steps leading up to RMH’s bankruptcy, a take that indicates it has a contractual right to assume ownership of the stores. In a Hail Mary act of desperation, RMH is now alleging that Dine Brands was responsible for the franchisee’s revenue problems and reneged on a promise to let stores close if attempts at a turnaround for the brand didn’t deliver the promised results. RMH said it spent $2.9 million on the initiatives, which were undertaken by the regime that preceded Applebee’s current management team. arbitrage betting But the current group wasn’t spared in RMH’s legal counterattack.
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