Sep 29, 2011 9:23 PM GMT
Awww…not the ice cream!
Friendly’s, America’s favorite* ice cream-and-treats parlor, is preparing to file for bankruptcy protection as soon as next week, Deal Journal colleague Mike Spector is reporting.
(* Ok, we realize that Friendly’s probably isn’t the favorite of most Americans.)
The buzzards aren’t circling yet, of course. Bankruptcy can be a handy tool for companies to rework their operations, take a breather from their debt troubles, and emerge in fighting trim. Spector reports Friendly’s, if it files for Chapter 11 bankruptcy, would try to sell the company.