The rise and fall of Friendly's, which just filed for bankruptcy after 85 years in business

Erin McDowellNov 5, 2020, 01:11 IST

Friendly's restaurant.QualityHD/Shutterstock

Friendly's, the fast-casual chain known for its ice cream and diner-style menu items, opened in 1935.
Founded by brothers Prestley and Curtis Blake, Friendly's has gone through a number of ups and downs throughout the chain's lengthy history, from lawsuits to family feuds and two bankruptcy filings.
At the chain's height, there were 850 Friendly's restaurants in the United States. Now, there are just 138 restaurants remaining.
On November 2, 2020, Friendly's announced it had filed for Chapter 11 bankruptcy as a result of the "catastrophic impact of COVID-19."

Friendly's, then known simply as Friendly, was founded in 1935 by brothers Curtis and Prestley Blake.

Built on the premise of creating a family-friendly dining experience, Friendly's won over customers with its lengthy ice cream list, diner-style atmosphere, and grounded menu of burgers, sandwiches, and more.

However, the coronavirus pandemic has sent the restaurant industry into a tailspin, mainly affecting restaurants that struggled to transition to delivery and curbside options.

Friendly's CEO George Michel said in a statement that the company had made "important strides toward reinvigorating our beloved brand" during a time of great change, yet "like many restaurant businesses, our progress was suddenly interrupted by the catastrophic impact of COVID-19."

Now, Friendly's has filed for Chapter 11 bankruptcy.

Here's the story of how Friendly's went from a family-favorite establishment to one of many struggling restaurant chains.

Friendly's was founded by brothers Curtis and Prestley Blake under the name "Friendly" in 1935.

Curtis (left) and Prestley Blake. AP Photo

After opening a second location in West Springfield, Massachusetts, the Blake brothers met customer demands and added food to the menu.

A Friendly's cheeseburger. Florence C./Yelp

Over the next three decades, Friendly expanded its number of locations. By 1974, it had 500 restaurants in the US.

Friendly's restaurant. QualityHD/Shutterstock

In 1979, Friendly was sold to the Hershey Foods Corporation for about $160 million.

Friendly's sundae. Yelp/Friendly's

In 1987, Friendly began selling ice cream in supermarkets.

Friendly ice cream in a grocery store. Wendy Maeda/The Boston Globe/Getty Images

In 1988, Friendly was purchased by a group of investors from Tennessee Restaurant Company for $375 million.

Friendly's restaurant. Suzanne Kreiter/The Boston Globe/Getty Images

Discontent began to brew between the Blake brothers after Prestley Blake spent approximately $2 million to become the then-public company's largest individual shareholder.

Friendly's restaurant. Matt Stone/ MediaNews Group/Boston Herald

Discontent began to brew between the Blake brothers after Prestley Blake spent approximately $2 million to become the then-public company's largest individual shareholder.

In 2008, Friendly's launched its famous "I Wanna Go To Friendly's" campaign targeted at families with kids.

Friendly's customers eating at a restaurant in 2010. Boston Herald/MediaNews Group/Boston Herald/Getty Images

However, in 2011, Friendly's filed for bankruptcy. It cited the 2008 recession and increased cream costs among the reasons for its financial troubles.

Friendly's restaurant. Lane Turner/The Boston Globe/Getty Images

In the nine years since the company filed for bankruptcy, Friendly's restaurants across the country have continued to close.

A Friendly's restaurant with a "closed" sign. Jonathan Wiggs/The Boston Globe/Getty Images

Now, Friendly's has filed another Chapter 11 bankruptcy claim amid the coronavirus pandemic and a shrinking customer base.

Friendly's sign. Joe Raedle/Getty Images

The future of Friendly's is unclear, but the chain has already been bought for $2 million by the parent company of Red Mango and Smoothie Factory.

Red Mango frozen yogurt store. melissamn/Shutterstock

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The rise and fall of Friendly's, which just filed for bankruptcy after 85 years in business

Friendly's was founded by brothers Curtis and Prestley Blake under the name "Friendly" in 1935.

After opening a second location in West Springfield, Massachusetts, the Blake brothers met customer demands and added food to the menu.

Over the next three decades, Friendly expanded its number of locations. By 1974, it had 500 restaurants in the US.

In 1979, Friendly was sold to the Hershey Foods Corporation for about $160 million.

In 1987, Friendly began selling ice cream in supermarkets.

In 1988, Friendly was purchased by a group of investors from Tennessee Restaurant Company for $375 million.

Discontent began to brew between the Blake brothers after Prestley Blake spent approximately $2 million to become the then-public company's largest individual shareholder.

In 2008, Friendly's launched its famous "I Wanna Go To Friendly's" campaign targeted at families with kids.

However, in 2011, Friendly's filed for bankruptcy. It cited the 2008 recession and increased cream costs among the reasons for its financial troubles.

In the nine years since the company filed for bankruptcy, Friendly's restaurants across the country have continued to close.

Now, Friendly's has filed another Chapter 11 bankruptcy claim amid the coronavirus pandemic and a shrinking customer base.

The future of Friendly's is unclear, but the chain has already been bought for $2 million by the parent company of Red Mango and Smoothie Factory.