Friendly’s: 76-year-old restaurant chain that may soon file for bankruptcy protection (Update: Friendly's filed)

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    Sep 29, 2011 9:23 PM GMT
    http://blogs.wsj.com/deals/2011/09/29/friendlys-near-bankruptcy-great-moments-in-history/?mod=e2fb

    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.
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    Sep 29, 2011 9:31 PM GMT
    I wonder if part of the reason could be the nation's growing demand for healthier foods.
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    Sep 29, 2011 10:57 PM GMT
    paulflexes saidI wonder if part of the reason could be the nation's growing demand for healthier foods.


    +1

    That, and Friendly's sucks.
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    Sep 29, 2011 11:14 PM GMT
    I use to go there for my 2nd period study hall in high school. icon_sad.gif
  • roadbikeRob

    Posts: 14354

    Sep 29, 2011 11:23 PM GMT
    Evidently, Friendlys just hasn't kept up with the major changes in the economy and society. Their business model is horribly outdated.
  • GQjock

    Posts: 11649

    Sep 29, 2011 11:54 PM GMT
    Oh wow ... my Mom used to be a Manager for them for years when I was growing up

    .... No wonder I hate ice cream icon_mad.gif
  • MCIC

    Posts: 211

    Sep 30, 2011 12:13 AM GMT
    I used to be a manager for them and havent really eaten ice cream since I left 10 years ago.
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    Sep 30, 2011 12:20 AM GMT
    Friendly's lost the plot a long time ago and then became a private equity play thing. Now its bones will be picked over. Too bad, I liked their burgers.
  • BlackBeltGuy

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    Sep 30, 2011 12:46 AM GMT
    and the Jim Dandys gone. bummer. as long as they do not close long john silvers, I'm good.
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    Sep 30, 2011 12:47 AM GMT
    Friendly's was the Montgomery Wards of restaurants... lost.
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    Sep 30, 2011 12:49 AM GMT
    jprichva said
    Blackbeltguy saidand the Jim Dandys gone. bummer. as long as they do not close long john silvers, I'm good.

    I got a fried fish filet from them once.
    There was no fish in it. Just batter all the way through.
    Yuck.


    I rant anytime I'm dragged into that place that the fillets used to be more substantial. Glad I'm not the only one that noticed.
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    Sep 30, 2011 5:42 AM GMT
    I went there once couple of years ago, and never again. Their food is horrible, but ice cream is okay I guess. Although I don't really eat ice cream either.
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    Oct 07, 2011 4:42 PM GMT
    Just a quick followup - they filed:
    http://online.wsj.com/article/SB10001424052970203388804576612531340661442.html?mod=WSJ_hp_LEFTWhatsNewsCollection

    Friendly Ice Cream Corp., which employs roughly 10,000 people and operates more than 400 restaurants known for sundaes and hamburgers, filed for Chapter 11 bankruptcy protection Wednesday.

    In a struggle familiar to many restaurant chains, the Wilbraham, Mass., restaurant chain has seen sales crimped as fewer people dine out, just as rising prices for corn, butter and other ingredients drained its cash.

    Late last month The Wall Street Journal reported the restaurant chain was preparing for a possible bankruptcy filing.
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    Oct 07, 2011 4:47 PM GMT
    Well I'm sure they would do better business if it didn't take an hour to get your food -.-