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 company filed for chapter 11 bankruptcy protection in Delaware. It listed estimated liabilities of $50 million to $100 million, and estimated assets of $1 million to $10 million. FIC Restaurants Inc., which operates the Friendly’s brand, will sell almost all of its assets to Amici Partners Group. Nearly all of Friendly’s 130 corporate-owned and franchised restaurant locations are likely to remain open subject to pandemic limitations.
Contemplating bankruptcy? Contact our office at 816-524-4949 or you can visit our website at hoorfarlaw.com to schedule an appointment.