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==History== {{More citations needed section|date=January 2018}} Friendly's was founded in 1935, at the height of the Great Depression, by brothers Prestley and Curtis Blake in [[Springfield, Massachusetts]]. The Blake brothers opened a small ice cream [[retail|shop]] named "Friendly", selling double-dip cones for a nickel each. In 1940, a second Friendly in [[West Springfield, Massachusetts|West Springfield]] was opened with an expanded food menu. During [[World War II]], the Blakes closed the business until the war's end.<ref>{{cite news|url=http://findarticles.com/p/articles/mi_gx5202/is_2001/ai_n19123044|work=International Directory of Company Histories|title=Friendly Ice Cream Corporation|first=Frank|last=Uhle|year=2001}}</ref> By 1951, 10 Friendlys were operating in Connecticut and western Massachusetts. The expansion of the company led to the move of headquarters from Springfield to [[Wilbraham, Massachusetts|Wilbraham]] in 1960. By 1974 the chain had grown to 500 restaurants in the Mid-Atlantic, Northeast, and Midwest. That year, a food processing and distribution plant opened in [[Troy, Ohio]].<ref name=founding/> [[File:Friendly's in Unionville, Connecticut.jpg|thumb|Friendly's in [[Unionville, Connecticut]], in March 2008 (closed in December 2014)]] In 1979, the Blake brothers retired and sold Friendly to [[Hershey Foods Corporation]], which operated the chain as a [[wholly owned subsidiary]]. In 1988, [[Donald N. Smith]] purchased Friendly from the Hershey corporation, with Friendly becoming part of Tennessee Foods. In 1989, Smith added the ''<nowiki/>'s'' to Friendly, making its colloquial name official. [[File:FriendlysMap2.png|thumb|left|225px|States with Friendly's locations, as of 2018]] In 1997, Friendly Ice Cream Corporation debuted on the [[NASDAQ]] stock exchange under the symbol FRND. The stock began at $18 per share, peaking at $26.{{citation needed|date=October 2022}} Around then, 34 stores were sold to DavCo Restaurants, which planned 100 openings in the next 10 years.<ref>{{cite web |last1=Berselli |first1=Beth |title=DAVCO BUYS 34 FRIENDLY'S IN AREA |url=https://www.washingtonpost.com/archive/business/1997/07/14/davco-buys-34-friendlys-in-area/3904c67b-1557-414d-afd8-5cd3b534b0fa/ |website=washingtonpost.com |publisher=WP, LLC. |access-date=8 October 2023}}</ref> Despite DavCo's efforts, Friendly's stock price fell to $5.{{citation needed|date=October 2022}} Also in 1997, Friendly's exited the [[Pittsburgh]] market after an unsuccessful few-year stint, closing all six restaurants, which were sold and converted to [[Bob Evans Restaurants|Bob Evans]] by the spring of 1998.{{citation needed|date=October 2022}} In 1998, Kim Andereck was brought in as vice president of franchise development and became instrumental in creating an aggressive franchise program for the chain, which had been company-owned. By 2021, about 66% of its restaurants are franchise-owned.<ref>{{cite web |last1=Evergreen |first1=Callie |title=Amici Finalizes Acquisition of Friendly's, Plans to 'Reinvigorate' 130-unit Brand |url=https://www.franchisetimes.com/franchise_mergers_and_acquisitions/amici-finalizes-acquisition-of-friendlys-plans-to-reinvigorate-130-unit-brand/article_44c780d0-5c13-11eb-ba36-8b994fdd20c8.html |website=franchisetimes.com |date=January 21, 2021 |access-date=8 October 2023}}</ref> In summer 2000, Friendly's switched to the [[American Stock Exchange]]; symbol FRN. In June 2007, Friendly's appointed president and CEO George Condos; that summer it was bought for $337 million by the private investment firm Sun Capital Partners, Inc.<ref>{{cite news|url=http://www.boston.com/news/local/massachusetts/articles/2007/08/30/shareholders_approve_friendly_sale/|title=Shareholders approve Friendly sale |website=Boston.com|date=August 30, 2007}} {{Dead link|date=March 2016}}</ref> In December 2008, Ned R. Lidvall was appointed president and CEO. On August 5, 2009, the first Friendly's Express opened in [[Mansfield, Massachusetts]], with three in 2010: April 28 at [[Coolidge Corner]] in [[Brookline, Massachusetts|Brookline]], July 7 in [[Wareham, Massachusetts|Wareham]], and September 28 in [[Methuen, Massachusetts|Methuen]].<ref>{{cite web |title=Methuen, Mass. Gets Fast and Friendly with New Friendly's Express |url=https://www.friendlysrestaurants.com/methuen-mass-gets-fast-and-friendly-with-new-friendlys-express/ |website=friendlysresturants.com |date=September 21, 2010 |publisher=Amici Partners Group, LLC. |access-date=8 October 2023}}</ref> On February 10, 2012, Harsha V. Agadi stepped down as chief executive officer. Agadi invested his own money in the company and remains on the board of directors.<ref>{{cite news|last=Abelson|first=Jenn|date=9 February 2012|title=Friendly's CEO stepping down|website=[[Boston.com]]|url=https://www.boston.com/uncategorized/noprimarytagmatch/2012/02/09/friendlys-ceo-stepping-down|access-date=13 February 2021}}</ref> On April 12, 2012, Friendly's announced that [[John M. Maguire]] had been named chief executive officer of the company.<ref name="Maguire named" /> On November 25, 2014, it was announced that all 14 of the Friendly's locations in [[Ohio]] would be closed.<ref>{{cite news |last=Byrd |first=Katie |date=November 26, 2014 |title=Friendly's ice cream chain melts away in Ohio, closing all locations |work=[[Akron Beacon Journal]] |url=https://www.beaconjournal.com/story/news/local/2014/11/26/friendly-s-ice-cream-chain/10650964007/ |access-date=April 1, 2023}}</ref> On June 20, 2016, [[Dean Foods]] announced the acquisition of Friendly's Ice Cream for $155 million. This did not change the ownership of the restaurants, as [[Sun Capital Partners]] continues to run the currently existing locations.<ref>{{cite web|url=http://www.deanfoods.com/our-company/news-room/press-release.aspx?StoryID=2178846|title=Dean Foods - Press Release|website=www.deanfoods.com|access-date=July 24, 2016|archive-date=August 19, 2016|archive-url=https://web.archive.org/web/20160819030434/http://www.deanfoods.com/our-company/news-room/press-release.aspx?StoryID=2178846|url-status=dead}}</ref><ref>[http://www.masslive.com/business-news/index.ssf/2016/05/friendlys_sells_retail_ice_cream_and_man.html Friendly's sells retail ice cream and manufacturing, new owner promises to keep Wilbraham factory] Jim Kinney, Masslive.com, May 10, 2016</ref> In early 2018, Friendly's opened a new "prototype" restaurant at the Apex Center in [[Marlborough, Massachusetts]], to test delivery, catering, online ordering and a revised menu.<ref>{{cite web|url=https://www.masslive.com/business/2019/04/friendlys-of-the-future-chain-touts-delivery-catering-throwback-menu-in-latest-rebranding-effort-photos-video.html |title=Friendly's of the future: Chain touts delivery, catering, throwback menu in latest rebranding effort |publisher=MASS LIVE |date=April 5, 2019 |access-date=August 22, 2019}}</ref> Friendly's abruptly closed most of their locations in [[upstate New York]] on April 7, 2019.<ref>{{Cite news|last=Doran|first=Elizabeth|date=April 8, 2019|title=Several Syracuse-area Friendly's restaurants close abruptly|work=The Post-Standard|url=https://www.syracuse.com/business/2019/04/several-syracuse-area-friendlys-restaurants-close-abruptly.html|access-date=April 8, 2019}}</ref> Several locations in [[New England]] were also among the closures.<ref>{{cite web|url=https://www.sentinelsource.com/news/local/friendly-s-closes-keene-eatery/article_92449400-be84-5750-8bda-ffb43a0b2399.html|title=Friendly's closes Keene eatery|work=The Sentinel-Source|date=April 8, 2019|access-date=April 8, 2019}}</ref> Co-founder Curtis Blake died on May 24, 2019, at the age of 102.<ref>{{Cite news|last=|first=|date=26 May 2019|title=Friendly's Ice Cream cofounder Curtis L. Blake dies at 102|work=[[Boston.com]]|url=https://www.boston.com/food/obituaries/2019/05/26/friendlys-ice-cream-cofounder-curtis-l-blake-dies-at-102|access-date=13 February 2021}}</ref> On August 19, 2019, Friendly's closed its [[North Providence]] location, its last in [[Rhode Island]].<ref name="masslive" /> In early October 2019, the last remaining restaurant in Virginia closed.<ref>{{cite web |last1=McDowell |first1=Erin |title=The Rise and Fall of Friendly's |url=https://www.businessinsider.com/friendlys-timeline-history-2020-11#now-friendlys-has-filed-another-chapter-11-bankruptcy-claim-amid-the-coronavirus-pandemic-and-a-shrinking-customer-base-11 |website=businessinsider.com |publisher=Insider |access-date=8 October 2023}}</ref> Friendly's closed its Brattleboro, Vermont location in 2024. Co-founder [[S. Prestley Blake]] died on February 11, 2021, at the age of 106.<ref>{{cite web |title=Friendly's Co-Founder S. Prestley Blake Dies At 106 |url=https://patch.com/connecticut/ellington-somers/friendlys-co-founder-s-prestley-blake-dies-106 |website=Ellington-Somers, CT Patch |access-date=12 February 2021 |language=en |date=12 February 2021}}</ref> ===Bankruptcy=== A casualty of a tough economic environment, rising commodity costs, and changing customer tastes, Friendly's announced it had filed for chapter 11 bankruptcy protection and closed 63 stores in October 2011.<ref>{{cite news|last1=Abelson|first1=Jenn|last2=Reidy|first2=Chris|date=5 October 2011|title=Friendly's closes 63 stores as ice cream chain files for bankruptcy|website=[[Boston.com]]|url=https://www.boston.com/uncategorized/noprimarytagmatch/2011/10/05/friendlys-closes-63-stores-as-ice-cream-chain-files-for-bankruptcy|access-date=13 February 2021}}</ref><ref name="Chapter 11">{{cite news |url=https://www.wsj.com/articles/SB10001424052970203388804576612531340661442|title=Friendly's Files for Chapter 11 Bankruptcy |first1=Mia |last1=Lamar |first2=Jacqueline |last2=Palank |work=[[The Wall Street Journal]]|date=October 6, 2011|access-date=May 16, 2012}}</ref> The company had secured more than $71 million in [[debtor-in-possession financing]] to keep it afloat during bankruptcy proceedings.<ref name="Chapter 11"/> Later that month, the [[Pension Benefit Guaranty Corporation]], a federal agency responsible for protecting workers' pension benefits, accused Sun Capital of illegally moving assets to keep control of the company. A few days later both parties were able to reach a settlement.<ref>{{cite news|last=Abelson|first=Jenn|date=15 December 2011|title=Pension agency settles with Friendly's|website=[[Boston.com]]|url=https://www.boston.com/uncategorized/noprimarytagmatch/2011/12/15/pension-agency-settles-with-friendlys|access-date=13 February 2021}}</ref> On November 1, 2011, the US Bankruptcy Court gave Friendly's permission to sell the company at an auction on December 22, 2011.<ref>{{cite news|last=Bathon|first=Michael|date=November 2, 2011|title=Friendly's gets OK for asset auction|website=[[Boston.com]]|url=http://archive.boston.com/business/articles/2011/11/02/friendly_ice_cream_wins_court_approval_to_hold_asset_auction/?camp=pm|access-date=May 16, 2012}}</ref> On December 21, Friendly Ice Cream Corp cancelled the auction after receiving no offers to compete with the $75 million offer made by an affiliate of its owner, Sun Capital Partners Inc.<ref>{{cite news |url=http://www.businessweek.com/news/2011-12-21/friendly-cancels-auction-as-no-bidders-challenge-sun-capital.html |title=Friendly Cancels Auction as No Bidders Challenge Sun Capital |first=Michael |last=Bathon |date=December 21, 2011 |access-date=May 16, 2012 |archive-url=https://web.archive.org/web/20120702160504/http://www.businessweek.com/news/2011-12-21/friendly-cancels-auction-as-no-bidders-challenge-sun-capital.html |archive-date=July 2, 2012 |url-status=dead }}</ref> Sun Capital paid about $75 million and retained ownership through its affiliate.<ref>{{cite news|last=Abelson|first=Jenn|date=December 22, 2011|title=Friendly Ice Cream cancels auction|website=[[Boston.com]]|url=https://www.bostonglobe.com/business/2011/12/22/bankrupt-friendly-ice-cream-cancels-auction/sNxofTxMSAHm60P9TctcXJ/story.html?camp=pm|access-date=May 16, 2012}}</ref> On January 9, 2012, Friendly's announced that it would emerge from bankruptcy protection, but close 37 more locations.<ref name="Out of bankruptcy">{{cite news|last=Abelson|first=Jenn|date=9 January 2012|title=Friendly's Ice Cream out of bankruptcy, but closes another 37 stores, including 10 in Mass|website=[[Boston.com]]|url=https://www.boston.com/uncategorized/noprimarytagmatch/2012/01/09/friendlys-ice-cream-out-of-bankruptcy-but-closes-another-37-stores-including-10-in-mass|access-date=13 February 2021}}</ref> On November 12, 2019, the grocery division of Friendly's, amongst all other associates of its parent company, [[Dean Foods]], filed for [[Chapter 11 bankruptcy]] protection.<ref name="WCVB">{{Cite web|url=https://www.wcvb.com/article/friendlys-ice-cream-parent-owner-files-for-bankruptcy/29775489|title=Friendly's ice cream parent owner files for bankruptcy|date=2019-11-13|website=WCVB|language=en|access-date=2019-11-13 |quote='Despite our best efforts to make our business more agile and cost-efficient, we continue to be impacted by a challenging operating environment marked by continuing declines in consumer milk consumption,' said Eric Beringause, who recently joined Dean Foods as president and chief executive officer.}}</ref><ref>{{Cite web|url=https://www.cnn.com/2019/11/12/business/dean-foods-bankruptcy/index.html|title=America's largest milk producer files for bankruptcy|author=Jordan Valinsky|website=CNN|date=November 12, 2019 |access-date=2022-11-26}}</ref> On November 1, 2020, Friendly's announced that it would file for chapter 11 once more and sell "substantially all its assets" to Amici Partners—an affiliate of Brix Holdings—for $2 million, citing the impact of the [[COVID-19 pandemic in the United States]]. The company stated that "nearly all" of its locations would remain open, although some closures (including a location near [[Mystic Aquarium]] in [[Mystic, Connecticut]]) were announced.<ref>{{Cite web|last=Valinsky|first=Jordan|title=Friendly's files for bankruptcy and puts itself up for sale|url=https://www.cnn.com/2020/11/02/investing/friendlys-bankruptcy/index.html|access-date=2020-11-02|website=CNN Business|date=November 2, 2020 }}</ref><ref>{{Cite web|last=Alexander Soule|date=2020-11-02|title=Friendly's to close at CT tourist magnet in bankruptcy sale|url=https://www.nhregister.com/business/article/Friendly-s-to-close-at-CT-tourist-magnet-in-15693464.php|access-date=2020-11-02|website=New Haven Register|language=en-US}}</ref> ===Acquisition by Amici Partners Group === On January 19, 2021, it was announced that Friendly's was acquired by Amici Partners Group, LLC, a group made of experienced restaurant investors and operators with national and international restaurant franchisor background. Amici has acquired 130 corporate-owned and franchised restaurant locations with plans to keep all locations open.<ref>{{cite press release |title=Amici Partners Group Acquires Friendly's Restaurants Amici Partners Group Acquires Friendly's Restaurants |url=https://www.prnewswire.com/news-releases/amici-partners-group-acquires-friendlys-restaurants-301210199.html |publisher=Cision PR Newswire |access-date=20 January 2021}}</ref><ref>{{cite web |last1=Hollan |first1=Michael |title=Friendly's sale to restaurant group finalized |date=January 19, 2021 |url=https://www.foxbusiness.com/lifestyle/friendlys-sale-restaurant-group-finalized |publisher=Fox Business |access-date=20 January 2021}}</ref>
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