Wilbraham, Mass. — FIC Restaurants Inc., which operates the Friendly’s brand, has filed for Chapter 11 bankruptcy and entered in an agreement to sell all of its assets to Amici Partners Group LLC. Nearly all of Friendly’s 130 corporate-owned and franchised restaurant locations, known for burgers, sandwiches and ice cream, are expected to remain open subject to COVID-19 limitations. Friendly’s stated that it has sufficient cash on hand to continue operations, meet its obligations to employees, franchisees and vendors.
Upon the sale closing, Amici expects to retain most employees at Friendly’s corporate-owned restaurant locations. Amici is an affiliate of BRIX Holdings, an owner-operator whose brands include Red Mango Yogurt Café Smoothie & Juice Bar, Smoothie Factory Juice Bar, RedBrick Pizza Kitchen Café and Souper Salad.
SOURCE: www.REBusinessOnline.com