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Report: Friendly's facing bankruptcy
Restaurant chain may file for Chapter 11
Updated: Friday, 30 Sep 2011, 5:55 AM EDT
Published : Thursday, 29 Sep 2011, 11:13 PM EDT
WILBRAHAM, Mass. (WPRI) - Friendly's is preparing to possibly file for Chapter 11 Bankruptcy protection, The Wall Street Journal reported Thursday.
Sources tell The Wall Street Journal the restaurant chain could file as early as next week.
Fewer people eating out, combined with rising food costs, have left Friendly's hundreds of millions of dollars in debt, according to the Wall Street Journal.
Copyright WPRI
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