Friendly's Shrinks to 87 Locations After 90% Closures as Competition and COVID Hit
Updated
Updated · Fox News · Sep 19
Friendly's Shrinks to 87 Locations After 90% Closures as Competition and COVID Hit
1 articles · Updated · Fox News · Sep 19
Summary
Friendly's now operates 87 restaurants across 11 Eastern states, down from about 850 at its mid-1990s peak, with roughly a quarter of the remaining sites in Massachusetts.
COVID-19 shutdowns and capacity limits accelerated the chain's decline after shifting demographics, tougher competition and rising costs had already pressured the business, contributing to a second bankruptcy filing in 2020.
Amici Partners bought Friendly's in 2021 aiming to revive what was then a 130-store chain, but the brand has kept shrinking as many locations were seen as dated and out of step with current dining trends.
Barbara Kahn of Wharton said Friendly's still has revival potential because its nostalgia, family-friendly identity and ice-cream heritage remain strong if it modernizes menus and the in-store experience.