Barre, Vermont - October 5, 2011
The Friendly's restaurant chain is filing for Chapter 11 bankruptcy protection and has already closed 63 of its restaurants, including one in Vermont.
Friendly's operates several restaurants in Vermont, among nearly 500 nationwide. The 76-year-old Massachusetts-based company is known for its ice cream and hamburgers. But company officials say the economic downturn coupled with higher costs and high rents drove it to file for bankruptcy protection.
Among the 63 restaurants closed as part of the reorganization was the one on the Barre-Montpelier Road. The company's 424 remaining restaurants will stay open as it reorganizes under bankruptcy protection.
