Friendly’s Restaurant Files for Bankruptcy, Expect Many More

Mish

The Ice cream eatery has estimated liabilities of up to $100 million and no way to pay them.

Friendly’s Goes Under Again

Bloomberg reports Iconic Restaurant Chain Friendly’s Files for Bankruptcy

Friendly’s Restaurants LLC, an iconic chain on the East Coast of the U.S. known for its sundaes, became the latest dining institution to go bankrupt amid the pandemic.

The pandemic and lockdown have dragged down sales at restaurants around the world, and led many already-struggling eateries to buckle under debt loads. Pizza Hut franchisee’s NPC International Inc., the holding company of Chuck E. Cheese CEC Entertainment Inc. and the U.S. arm of Le Pain Quotidien have sought bankruptcy protection since the Covid-19 crisis started. 

This isn’t the brand’s first brush with bankruptcy. In 2011, Friendly Ice Cream Corp. and its subsidiaries, the operator of Friendly’s restaurants and a nationwide distributor of ice cream products, had entered Chapter 11.

More Lockdowns

COVID restrictions and lockdowns rise in US and Europe, as Trump's rallies are blamed for cases.

Also note  Fauci, Warning of Bleak Winter, Draws White House Rebuke

As Mr. Trump toured the country assuring Americans that the U.S. has “turned the corner” on the coronavirus, Dr. Fauci looked ahead to the coming winter and declared that “you could not possibly be positioned more poorly.”

“We’re in for a whole lot of hurt,” Dr. Fauci said in an interview with The Washington Post published on Saturday.

Mr. Trump, in a battle for re-election and eager to portray the virus as tamed, has preferred the counsel of another pandemic adviser, Dr. Scott W. Atlas, who has questioned mask use and offered a number of other contrarian philosophies.

Ordinarily circumspect, Dr. Fauci directly criticized Dr. Atlas in the interview.

“I have real problems with that guy,” he said.

Agree with them or not, more lockdowns are coming. 

This will be the final death bell for many chains and independents.

Mish

Comments (54)
No. 1-15
tedr
tedr

They had great food. Hate to hear they filed again.

Jojo
Jojo

Could be the death knell for many politicians also, who will be taking the voters blame for making the Covid-19 scamdemic worse that it needed to be.

Lockdowns don't work. If they did, then the world would not be having a resurgence of the virus.

How many more lockdowns can businesses survive?

Wizard1966
Wizard1966

Locked down will only keep this virus around longer. Immunity comes from exposure to it not hiding from it. Vaccines are only 60% affective at best with some people experiencing life altering affects.

Doug78
Doug78

You forgot Africa which has the lowest infection rate of them all. How would you explain that?

Frednurk
Frednurk

Death rates are down, but still lotsa folk need to go to hospital. If folk cooperated with the less invasive restrictions like wearing masks in crowds, then the spread may be slow down enough to let it seep through the community. But nooo. selfishness and denial, so the spread picks up, the hospitals get full, death rates rise and we have to go into lockdown again.

Eddie_T
Eddie_T

Lockdowns are a last ditch effort to keep healthcare facilities from being completely overwhelmed. And so they DID work, in that frame of reference, back in the spring.

It was never going to eradicate the virus in most countries. It's a coping strategy, not a cure for a disease.

Nobody argues that lockdowns are good for the economy. Obviously, they cause the economy to be devastated.

I don't favor lockdowns, but I don't favor acting stupid either. Apparently some people do. Like the President.

Sechel
Sechel

I haven't seen or been in a friendly's restaurant in decades. didn't realize they still existed. this may be why they are going under

Dodge Demon
Dodge Demon

If shutting everything down prevents even one case of the wuflu, it’s worth it. After all, we’re all in this together! (tm)

ToInfinityandBeyond
ToInfinityandBeyond

Service in Friendly’s has always been notorious for being slow and I mean slow. That said their takeout ice cream sundaes will be sorely missed.

njbr
njbr

...Lockdowns don't work...

Sorry putz, lockdowns did work to cut the first peak down to manageable size.

We haven't had lockdowns since spring. Where have you been?

People get careless and cases rises.

Thereby guaranteeing the next lockdown needed to cut the peak down to manageable size.

How many times do you need to figure that out?

KidHorn
KidHorn

Didn't the company that makes Friendly's ice cream recently file for BK protection? Seems to ring a bell.

chavesarlene4
chavesarlene4

Oh my! These lockdowns are really affecting the sales of many businesses today. Many of the big companies are closing because of the pandemic. I hope that this will be over soon.

Dr. Manhattan23
Dr. Manhattan23

Another lockdown at this stage, Australian style 3 months or European style 1 month will kill any small to medium business that has survived this ordeal. If the goal is to destroy businesses, then this is the way to do it. There is always a trade off. One would think that after having experience with this last March, only those portions of our society whom are the highest at risk would be required to stay indoors, and not the entire populous

Tnguy2
Tnguy2

Let people do what they want and limit the cost of care each person is owed. That may cause people to be more cautious. Locking them down will simply kill the currency....which is of course the whole point. We are heading for a reset of the dollar and Covid is the cure.

SouthShorePainting
SouthShorePainting

At least with people home they are looking for home improvement. Https://www.southshorepaintingcontractors.com <a href="https://www.southshorepaintingcontractors.com">Painters in Braintree MA</a>


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