Report: Friendly’s Ready To File For Bankruptcy

By Anthony Silva, WBZ NewsRadio 1030

BOSTON (CBS) – A popular local fast food restaurant chain is reportedly ready to file Chapter 11 bankruptcy.

Friendly’s ice cream of Wilbraham is in talks with Wells Fargo bank for about $70 million in financing that would keep the chain of 500 restaurants operating during its bankruptcy.

The Wall Street Journal is quoting people familiar with the talks as saying the filing could come as early as next week.

Friendly’s is owned by Sun Capital Partners of Florida, which bought the local chain in 2007, just before the economic downturn.

Friendly’s began as a small ice cream shop in Springfield during the Great Depression.

The chain now has about 10,000 employees.

  • Karen R Mangan

    im very superise they filing bankruptcy at least in south weymouth they do very good biz and there sundeas are to die for..

  • will

    Unfortunately Friendly’s is competing in a crowded, downscale market sector that has been hard-hit by the recession which shows no significant signs of recovery.

  • taxedout

    Keep voti ng for the Same people!!! More jobs in this state LOST!!!!!

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