Friendly Ice Cream Corp., parent to the Friendly’s family-dining chain, said Wednesday it has filed for Chapter 11 bankruptcy protection, closed 63 of its nearly 500 locations and secured about $70 million in debtor-in-possession financing to begin restructuring. The company said it will undertake a sale process and that its current owner, private-equity firm Sun Capital Partners, is the lead bidder. Wilbraham, Mass.-based Friendly Ice Cream said 424 Friendly’s restaurants ...
Register to view this article
It’s free but we need to know a little about you to continually improve our content.
Why Register?
Registering allows you to unlock a portion of our premium online content. You can access more in-depth stories and analysis, as well as news not found on any other website or any other media outlet. You also get free eNewsletters, blogs, real-time polls, archives and more.
Attention Print Subscribers: While you have already been granted free access to the NRN Digital and Print access package, for only a small additional amount, you can get NRN All Access, which includes premium reports such as the annual NRN Top 200 data. Either way, we ask that you register now. We promise it will only take a few minutes!
