Good Lifestyle

Family restaurant of eighty years and beloved ice destinationFriendly's has fallen for bankruptcy Chapter 11. After years of struggle, the chain should be sold in an offer of $ 2 million.

The sympathetic parent company has agreed to sell "substantially all" of its assets to the group of partners of Amici. Affiliated with the Brix Holdings multi-brand franchise company, the restaurant group exploits channels such as Smoothie Factory, Red Mango and Redbrick Pizza. The transaction will allow friends ofkeep almost all 130 open pitches and preserves thousands of jobs, according to aPress release. (In touch:9 restaurant chains that have closed hundreds of locations this summer.)

"We believe that the Voluntary Bankruptcy Scholarship and the planned sale to a new deeply experienced group of restaurants will allow friendships to bounce from the pandemic as a stronger business," George Michel said George Michel.

According toRestaurant Business, the pandemic was not the beginning of friendly problems. The chain, which once exploited more than 500 locations and pilots, previously filed for bankruptcy in 2011. Nearly 70% of friendly locations had closed over the last decade. The deposits of the Court confirmed that the company had sought for the help of external financial advisors after "losing money for some time".

The east coast chain is around since the Great Depression, serving a family-style menu of hamburgers and ice cream. He joins a group of dozens ofClassic American Channels andCasual dining room shop who have filed for bankruptcy in the middle of the current pandemic.

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