Friendly’s files for bankruptcy a second time, plans to sell restaurants to investor group

Friendly’s, the East Coast restaurant chain known for its ice cream and diner fare, has filed for voluntary bankruptcy amid declining revenue due to the pandemic.

“Over the last two years, Friendly’s has made important strides toward reinvigorating our beloved brand in the face of shifting demographics, increased competition, and rising costs,” Friendly’s CEO George Michael said in a press release. “Unfortunately, like many restaurant businesses,