KANSAS CITY, MO — The president of Applebee's International, Inc. announced Tuesday that the family restaurant chain would be declaring Chapter 11 bankruptcy next week, after offering military service members and veterans free alcohol for Veterans Day.

The promotion resulted in a massive single day loss of nearly $6 billion.

“I just wanted to do something for the troops,” said Michael Archer, Applebee's president, in a press conference. “I figured they would come in, be respectful, and have a drink or two. It’s not like people go to Applebee’s to drink.”

Soon after the deal was announced, word of free alcohol spread across social media. Army Brig. Gen. Robert James announced the deal on Twitter, along with the hashtag #CrunkAtApplebees. The tag began trending quickly, after Pentagon spokesman George Little tweeted, "Oh fuck yeah! #CrunkAtApplebees tonight bitches. Join me and Chuckie H.!"