Naugatuck Friendly's Spared Closure As Company Files for Bankruptcy

The restaurant chain Friendly’s announced Wednesday it is filing for Chapter 11 Bankruptcy protection, and will shutter 63 underperforming stores.

The Friendly's restaurant in Naugatuck, located on Rubber Avenue, has been spared, however, according to the list of stores Friendly’s Ice Cream Coporporation released Wednesday. Connecticut is losing seven stores across the state.

The remaining 424 Friendly's restaurants will remain open for business during the financial restructuring. There is expected to be no impact to manufacturing and distribution operations, according to a company press release.

Friendly's has secured approximately $70 million in financing, which will allow the company to meet its ongoing obligations during the restructuring and to continue paying employee salaries and benefits. Gift cards will continue to be honored.

The decision to file for bankruptcy was driven largely by the challenges of the current economic downturn and significantly increased costs, particularly in commodities such as cream, according to the release.

The following Connecticut stores will close:        

Boston Post Road, Guilford
Buckland Mall, Manchester
Main Street, Meriden
Storrs Road/University Plaza Storrs
East Main Street, Torrington
Waterbury Shopping Plaza, Waterbury
South Main Street, West Hartford

Editor's Note: Portions of this article regarding Naugatuck were added by Naugatuck Patch Editor Ronald DeRosa.