This beloved catering chain just dropped bankrupt
The 85-year-old restaurant announced that it "substantially sell all its assets" in the middle of the process.
Another popular American channel hasdeposited for bankruptcy in the middle of the coronavirus pandemic. Friendly, the 155-year-old casual dining restaurant specializing in the American classic rate such as hamburgers and sundaes,Classified for protection against bankruptcy of Chapter 11 On November 1, CNN reports. Read actively for details and for another pillar in the west, checkThis beloved coffee chain has just announced that this has been filed for bankruptcy.
Friendly's, which operates 138 restaurants in the United States, will be "Substantially sell all of its assets"At the Investment Group Amici Partners Group, LLC, which operates chains such as red mango, the Smoothie Factory and Souper Salad, the company has announced in a statement.
Despite a relatively large portfolio of remaining restaurants, the friendly will beSell its remaining assets to Amici's partners For only $ 2 million,Strong reports. However, in doing so, the company hopes to avoid closing restaurants or dismiss employees. The existing sales plan is "expected to preserve the jobs of the team members of friendly restaurants, which are the heart and soul of our company and have been essential for the progress we have made in the transformation of this brand iconic",George Michel, CEO ofThe friendly parent company FIC Restaurants, Inc., said in a statement.
Michel did not score words when he came to explain the reasoning of the chain to enter the bankruptcy process - the second time you did it in a decade, with an additional deposit in 2011. "Unfortunately , like many restoration companies, our progress was suddenly suddenly interrupted by the catastrophic impact of COVID-19, which caused a decline in revenuesThe dwelling operations have ceased For months and reopened with limited capacity, "Michel explained.
Nice is not the only popular chain that has been forced into a serious misconduct in the middle of the coronavirus pandemic, though. Read it to find out which other companies have made major changes or closed their doors due to Covid. And for more insight in the store closure near you,Your Starbucks could be one of the 800 fences for good.
Read the original article onBetter life.
1 Crankcase
In October,Beloved Children Brand Carter's (Who also owns Oshkosh B'Gosh) announced that it would get 200 stores closing. CEO of Carter and PresidentMichael Casey broke the news that about 60% of the closures would be made by the end of 2020. and for more store closing marks,This beloved beauty brand closes stores at the national level.
2 Flying tiger
Popular Danish Store Tiger flying, known for its Kitschy housekeeping and gift items, announced in mid-October that would beClose all 13 of its plate sites. "We had our ups and downs, but I always felt the love of our customers ... and that love is reciprocal," said the mark in a statement.
3 Dunkin Donuts
Do not panic yet for the moment: Dunkin 'Donuts do not closeall of its stores, but enough some fly for good. In the middle of the pandemic, the beloved coffee chain announced that it would beClose 800 stores By the end of 2020. And for more news from the closure of stores delivered directly to your inbox,Sign up for our daily newsletter.
4 Republic of banana
The Republic of Bananas has become the weak link of the Gap Inc.'s portfolio - which also includes GAP and Old Navy stores - representing only 15% of the total sales of the brand in 2019. As such, GAP Inc. has announced in October that it would beShuttering 130 stores from the Republic of Bananas for real.
5 Difference
The Republic of Bananas is however the only Gap Inc. brand that will closure stores. The company will close a number of its state gap stores in 2020, with more closures next year. Gap Inc. also announced that this could beShochinging some of its gap stores In France, Ireland, Italy and U.K. By 2021. And for more companies ending their race, checkThis shopping center can close in a store near you.