NEW YORK (AP) – The ancestor of the Friendly’s restaurant alternation is filing for Chapter 11 defalcation aegis and says it has already bankrupt 63 of its stores.
The 76-year-old aggregation accepted for its ice chrism and hamburgers says the bread-and-er abatement accompanying with college costs and aerial rents collection it to book for defalcation protection.
Friendly Ice Chrism Corp., based in Wilbraham, Mass., says it has anchored $70 actor in costs and that its 424 actual restaurants will break accessible as it reorganizes beneath defalcation protection. Gift cards will abide to be honored.
It says the abundance closings and its about-face efforts will bigger position it for the future.
Its accepted owners, Sun Capital Partners, will be the lead, or “stalking horse” bidders, in an bargain process.
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