Have you seen restaurant stocks lately? Evidently private equity giant Apollo has. They've been cratering, including Chipotle last week. Now Reuters reports that Apollo has pulled its $64/share bid for Papa John's pizza chain.Shares are quickly down 11.5%.Notably, the market had sniffed out some risk here as shares were already trading well below the $64 bid price.Also notable is this detail:The private equity firm pulled its bid about a week ago as consumers tighten spending and the quick-service restaurant industry starts to stumble, these people said, asking not to be identified because the negotiations are private.Guess what else started happening a week ago? The shares started sliding. This article was written by Adam Button at investinglive.com.