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  1. #1
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    Default Friendly's Restaurant Weighs Chapter 11

    Friendly's Preparing Bankruptcy Filing - WSJ.com
    Friendly Ice Cream Corp., which employs roughly 10,000 people and operates more than 500 restaurants known for sundaes and hamburgers, could seek protection from creditors as soon as next week, the people said.
    Friendly's, which carries more than $250 million in debt, is in talks with Wells Fargo & Co. for about $70 million in so-called debtor-in-possession financing that would keep it afloat during bankruptcy proceedings, the people said. The bankruptcy financing would consist of about $25 million in new funds and other existing debt that would "roll up" into the new loan, the people said. Wells Fargo declined to comment.

  2. #2
    Scab Hating Union Thug

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    Default Re: Friendly's Restaurant Weighs Chapter 11

    Maybe they should get in touch with Zollars and Hoffa?

  3. #3
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    Default Re: Friendly's Restaurant Weighs Chapter 11

    Quote Originally Posted by 222lifer View Post
    Maybe they should get in touch with Zollars and Hoffa?

  4. #4
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    Default Re: Friendly's Restaurant Weighs Chapter 11

    Quote Originally Posted by 222lifer View Post
    Maybe they should get in touch with Zollars and Hoffa?
    This was my same thoughts. Hell Zollars can work his magic there and get to split shares and such and not worry about the bankruptcy.

  5. #5
    Taking A Stand!!!

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    Default Re: Friendly's Restaurant Weighs Chapter 11

    Quote Originally Posted by tiredseat View Post
    This was my same thoughts. Hell Zollars can work his magic there and get to split shares and such and not worry about the bankruptcy.
    You two are comedians!!

  6. #6
    I Am Rocking Now

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    Default Re: Friendly's Restaurant Weighs Chapter 11

    If friendly's was to go under it would be a big blow to the economy in the Springfield, Mass. area, since there headquarters is located just over the Springfield city line. A lot of people would lose there jobs around here and that would not be good, and they don't pay that badly for being non-union.
    I remember when i was a kid, i played on a baseball all-star team that went to play some games in New Bedford, Mass. Friendly's helped sponsor the team, we ate there for lunch and dinner (hamburger, fries and a shake, free) as for the last game we played i was at bat with two out man on second, down by a run, runner got thrown out stealing third, game over.
    And if you read this ABFwife, all us Catholics went to Church that Sunday,One of the coach's found a church that wouldn't mind us being there, when the Mass started it was in French, the coach that found the Church later said the the Priest spoke perfect English when he had spoken with him, man i can remember all this but can't remember yesterday.

  7. #7
    Taking A Stand!!!

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    Default Re: Friendly's Restaurant Weighs Chapter 11

    Quote Originally Posted by Sayheykid View Post
    If friendly's was to go under it would be a big blow to the economy in the Springfield, Mass. area, since there headquarters is located just over the Springfield city line. A lot of people would lose there jobs around here and that would not be good, and they don't pay that badly for being non-union.
    I remember when i was a kid, i played on a baseball all-star team that went to play some games in New Bedford, Mass. Friendly's helped sponsor the team, we ate there for lunch and dinner (hamburger, fries and a shake, free) as for the last game we played i was at bat with two out man on second, down by a run, runner got thrown out stealing third, game over.
    And if you read this ABFwife, all us Catholics went to Church that Sunday,One of the coach's found a church that wouldn't mind us being there, when the Mass started it was in French, the coach that found the Church later said the the Priest spoke perfect English when he had spoken with him, man i can remember all this but can't remember yesterday.
    Thanks for that great story Sayheykid!!

    And I am hoping that these poor people do not lose their jobs. We don't need more unemployed.

  8. #8
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    Default Re: Friendly's Restaurant Weighs Chapter 11

    Here is another story about what is going on.

    Cream kills: The Friendly's spiral

    Cream kills: The Friendly's spiral - The Term Sheet: Fortune's deals blog Term Sheet

  9. #9
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    Default Re: Friendly's Restaurant Weighs Chapter 11

    There is a lot of blame to go around, including the sluggish economy, rise of fast-casual alternatives and the chain's inability to overcome its reputation for poor service and grubby interiors
    Low and behold poor service and grubby interiors is a problem thru-out the chain. I was going to say before they have the best burgers and ice cream out there but you starve to death waiting for it, the floors in the kitchen are always a mess

  10. #10
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    Default Re: Friendly's Restaurant Weighs Chapter 11

    Interesting to see who owns Friendly's Sun Capital Partners I believe these are the same scum that did Jevic Transportation in..Last I heard those guys still haven't received any "warn act" money...Corporate America doing what it does best "screwing the little people"..



 

 
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