Friendly's

Out of the Ashes

While bankruptcy has its pitfalls, restaurant companies are increasingly finding that it also provides an opportunity for a fresh start.
Quick service chains file for Chapter 11 bankruptcy to save brand legacy.
Friendly's CEO John Maguire says the company has streamlined the menu, initiated store upgrades, and rolled out an employee training program since it filed for Chapter 11 bankruptcy in 2011.

Once slandered as the “B word,” bankruptcy is finding new life as an opportunity for new beginnings. Blue-chip brands like Eddie Bauer, Delta Air Lines, and the Chicago Cubs are among the list of house-hold business names that have filed for bankruptcy in modern times, times in which even city governments—the most notable being Detroit—have looked to bankruptcy to solve fiscal woes. Those once-bankrupt American institutions, along with more than 1 million personal bankruptcies each year, suggest that the “B word” may have has lost at least some of its bite.

Friendly's Turns 77 with 77-Cent Cone Day on July 21

In a tasty twist on the traditional, Friendly’s restaurants are celebrating their 77th anniversary this year with a special, limited-time offer. On July 21, from noon to 5 p.m. local time, Friendly’s restaurants will be serving up a single scoop of their famous ice cream in cones or cups for just 77 cents.

“We can’t wait to celebrate our 77th anniversary with our customers on our 77-cent Cone Day,” says John Maguire, CEO and president of Friendly’s Ice Cream, LLC. “We think of our customers as part of the Friendly’s family–and celebrations are for family!”

Friendly’s Ice Cream to Launch MICROS Programs

MICROS Systems, Inc., a leading provider of information technology solutions for the hospitality and retail industries, is pleased to announce that Friendly’s Ice Cream has expanded its partnership with MICROS through the addition to its technology solution set of online ordering and a guest loyalty program.

 

Friendly's Emerges From Chapter 11

Friendly Ice Cream Corporation announced that the Company has successfully emerged from its voluntary Chapter 11 by consummating the sale of its business to Friendly's Ice Cream, LLC and its subsidiaries.

"The completion of our financial and operational restructuring in just over three months is a significant accomplishment.  It is a testament to the hard work and dedication of our employees as well as the ongoing support of our restaurant guests, franchisees, retail customers and vendors," says Harsha V. Agadi, Chairman and CEO of Friendly's.

The 7 Trends of 2011

You can’t afford to miss these expert predictions.

Restaurant operators have spent 2010 in wait-and-see mode. The economy seems to have survived the financial collapse of 2008—survived being used quite literally here, as in, not died—and is even slowly growing. But consumers are still pinching pennies, and staying afloat in the restaurant industry remains about as difficult as ever.

Is the Health Trend Dying? 

Despite cries for healthy menu items, consumers seem to be equally interested in items like KFC’s Double Down.

Perhaps the biggest splash so far this year in the quick-service sector came in April when KFC’s Double Down, a breadless “sandwich” that features melted cheese, bacon, and sauce between two chicken filets, made its national debut.