RMH Franchise Holdings Inc., the nation’s second-largest Applebee’s franchisee, won final bankruptcy court approval of a reorganization that earlier was opposed by the chain’s franchiser and key creditors, WSJ Pro Bankruptcy reported. Bankruptcy Judge Brendan Linehan Shannon endorsed the chapter 11 plan — which will include a tripling of the initial equity commitment from the franchisee’s owner, private-equity firm Acon Investments — after a hearing yesterday in U.S. Bankruptcy Court in Wilmington, Del. Court papers show creditors voted overwhelmingly for the plan after RMH, which filed for bankruptcy in May, recently settled disputes with Dine Brands Global Inc., which owns the Applebee’s brand, and a secured lender group led by Bank of America Corp.
