A casual-dining chain known for its ice-cream desserts, burgers, and family atmosphere has significantly reduced its number of locations in recent years. Friendly's, which was founded in 1935 by brothers Prestley and Curtis Blake in Springfield, Massachusetts, has dwindled from roughly 850 restaurants to fewer than 100 locations in 11 states.
The company, which was once a staple in the Northeast and Mid-Atlantic regions, has undergone significant changes throughout the decades. Friendly's introduced new food and dessert items to its menu, set a Guinness World Record for the largest sundae in 1980, and expanded its distribution of ice cream in supermarkets. The company has also changed hands multiple times, including being acquired by Hershey's in 1979 and later by Tennessee Restaurant Company.
Friendly's first filed for bankruptcy in 2011 and again in November 2020, citing declining revenue due to the impact of the COVID-19 pandemic. In 2021, the company announced that Amici Partners Group, LLC had acquired Friendly's and was committed to reinvigorating the brand. However, today there are only 87 locations remaining in 11 Eastern states, with 22 of those locations in Massachusetts.
Despite the significant decline in locations, marketing professor Barbara E. Kahn of the University of Pennsylvania's Wharton School believes that Friendly's still has "a lot of life left" in the brand. Kahn suggests that the company can build on its legacy by capitalizing on its nostalgia and strong brand surrounding its ice cream, while also modernizing its offerings.
NTC Report coverage is based on reporting from the original publisher.
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