Friendly's Prepares for Bankruptcy
The restaurant chain, based in Massachusetts, may file for Chapter 11 protection as early as next week.
Friendly's, which has a location in Nashua on Daniel Webster Highway, may file for bankruptcy, according to a report by the Wall Street Journal.
Friendly's has been hit by lingering effects of the recession, which has seen more people refrain from eating out to save money, according to the Wall Street Journal. The chain has also been hit by skyrocketing cost of supplies like butter and corn.
The chain operates about 500 locations and employs 10,000 workers. It is based in Wilbraham, Mass.
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