Exeter Friendly's Escapes Closure List

The is safe from a massive round of store closures after the company filed for bankruptcy.

Friendly's announced today in a press release that it closing 63 of its stores, including one in Portsmouth. Most of the others are located in Massachusetts, where the company is headquartered.

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. The chain has also been affected by skyrocketing cost of supplies like butter and corn.

The company encouraged those employees at the 63 closed locations to apply for jobs at the other 424 other locations that will stay open.

Friendly's recently launched a "High Five" menu of meals for $5 and promoted it with a television campaign.