Friendly Restaurant’s Original Files for Bankruptcy, Announces Sale

A Friendly Ice Cream Corp restaurant is seen on the day the company filed for bankruptcy in Delray Beach, Florida.

Joe Rydal | Getty Images

Friendly Restaurants, Friendly’s parent company, said it filed for Chapter 11 bankruptcy protection following the sale of Plummet due to a coronovirus epidemic.

The company will sell “substantially all” of its assets to Amike Partners Group. The FIC estimated in its Sunday bankruptcy filing that it had assets of $ 1 million to $ 10 million. Friendly is asking to approve the sale in mid-December under insolvency law.

The East Coast restaurant chain, best known for its ice cream, joins the restaurant’s legacy, having filed for bankruptcy in the wake of the epidemic, including Chuck E. Cheese’s parent company and Ruby Tuesday are included. The Kovid-19 cases are expected to follow as the demand for external food increases and in cold weather.

FICI Restaurants George George Mitchell said that unfortunately, like many restaurant businesses, our progress was suddenly hampered by the catastrophic impact of COVID-19, which led to a decline in revenue. Said in a statement.

Nearly all of Friendly’s 130 restaurants are expected to remain open, although this is subject to the Kovid-19 ban. The restaurant supplier is the largest creditor of US Foods FIC.

This is not the first visit to a friendly bankruptcy court. Friendly and its subsidiaries, including its ice cream business and restaurant operations, filed for bankruptcy in 2011. Dean Foods, the largest milk producer in the US, bought the ice cream business in 2016, three years before it filed for bankruptcy.


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