Friendly's Restaurant Chain Shrinks to 87 Locations in 11 States
Once operating nearly 850 locations, the casual-dining chain has faced financial challenges, including two bankruptcies, but an expert sees potential for revival.
Friendly's, a casual-dining chain known for its ice cream, burgers, and family atmosphere, has significantly reduced its footprint, dwindling from approximately 850 locations to just 87 operating in 11 states. The chain has filed for bankruptcy twice, most recently in November 2020.
Founded as the "Friendly" ice-cream shop in Springfield, Massachusetts, by brothers Prestley and Curtis Blake in 1935, the company expanded to include food items like hamburgers by 1940. By 1974, Friendly's had grown to 500 restaurants, primarily across the Northeast and Mid-Atlantic regions. The brand reached its peak of about 850 restaurants by the mid-1990s.
Challenges and Ownership Changes
Friendly's has changed ownership multiple times throughout its history. Hershey's acquired the chain from the founders in 1979, selling it nine years later to Tennessee Restaurant Company. The company first filed for bankruptcy in 2011, followed by a second filing in 2020. In 2021, Amici Partners Group, LLC acquired the company with a stated goal of revitalizing the chain.
Despite its contraction, Friendly's continues to operate 87 locations, with 22 of those restaurants situated in Massachusetts, representing about 25% of the remaining sites. The company also sells its ice cream in supermarkets.
Expert Outlook
Barbara E. Kahn, a marketing professor at the University of Pennsylvania's Wharton School, believes the Friendly's brand still has potential for a comeback. She noted that some locations may have appeared dated and failed to keep pace with modern trends. However, Kahn stated that the brand's legacy and connection to nostalgia could be a significant asset.
"It has a legacy that could be built on and could serve to bring people in, especially on this trend of nostalgia, which can be a plus in restaurants," Kahn told Fox News Digital. "But it also has to keep up with changing times and changing tastes."
Kahn suggested that Friendly's could attract new customers by modernizing its offerings, potentially by incorporating more non-meat options, healthy grains, and salads, drawing parallels to brands like McDonald's that have adapted their menus over time. She emphasized that leveraging the brand's historical appeal, particularly its ice cream, while also evolving its menu and dining experience, could contribute to its revitalization.