Reply #6: Friendly’s closes 63 stores as ice cream chain files for bankruptcy [View All]

[FarCenter]

In a recent survey published last month by Nation’s Restaurant News, Friendly’s ranked 10th among 12 chains across the country in a consumer-preference survey. Friendly’s scored poorly on questions on value, food quality, and reputation. Only one chain among the dozen ranked lower when consumers were asked if they were likely to return.

http://www.boston.com/Boston/businessupdates/2011/10/friendly-close-stores-ice-cream-chain-files-for-bankruptcy/Edfvs887yD2ypHaYmyZBRN/index.html

---

The founders sold the chain to Hersheys in '79. Hersheys exited in the late '80s and it underwent expansion and a hype cycle in the '90. Since then it has pretty much languished. Owned by buyout specialist now. About half the restaurants are owned and the rest are franchise operations.