How Friendly's Beat Bankruptcy Twice And Avoided Total Failure
Friendly's is an American icon. Its 90 year stint in the restaurant business has cemented the chain as an industry elder. With two near misses, aka bankruptcies, rather than closing down shop, the resilient restaurant pivoted. Friendly's defied the odds, remaining afloat by integrating change — that is, by partnering with notable names in the food and beverage universe. Selling its Retail Ice Cream and Manufacturing business to Dean Foods Company in 2016 gave Friendly's a new life. Dean Foods Company, a Dallas-based milk and dairy producer, helped recover lost profits by leveraging retail sales of Friendly's packaged ice cream and dessert products, which had risen 105% since 2011.
Dean's expertise in direct-to-store distribution launched Friendly's into supermarkets, and consumers ate it up! While its retail operations expanded, the chain's 260 franchises remained under the management customers had grown to love — albeit with new menu options and drive-thru windows. "Dean Foods possesses the growth capabilities and expertise to take the Friendly's retail ice cream business to the next level of its meteoric rise," said John Maguire, then-CEO of FIC Restaurants, in a 2016 press release. The revamp efforts saw Friendly's into its next era — that is, until 2020.
When the COVID-19 pandemic struck, restaurants were especially affected, including Friendly's. The chain filed for bankruptcy again and was acquired by Brix Holdings in 2021. Brix was an experienced liaison, a restaurant franchiser that encompassed Red Mango Yogurt Café, Souper Salad, Humble Donut Co., and Pizza Jukebox. Adding Friendly's to its squad, Brix plans to expand franchises into Texas, as well as Orlando. Reviving the brand through remodels, menu edits, and modern marketing strategies – including a Jonas Brothers collaboration – Brix was the life preserver Friendly's needed.
Saved by the ice cream
Classic but revived, Friendly's new partners modernized its image and interiors, and shifted focus to its desserts. In 2011 and 2020, it was Friendly's ice cream that saved the company. Sherif Mityas, CEO of Friendly's Restaurants, believes that its dairy treats set the brand apart from competitors. "We're not just built on food, but on food and ice cream as an integral part of the experience," he says on the Friendly's website. Internet-post-worthy novelty desserts drive its updated selections as well as health-centered offerings, such as Impossible Burgers and sherbets.
Though it expanded into supermarkets nationwide, Friendly's restaurant locations are primarily in the Northeast. Franchises can be found in Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, and South Carolina. If these states are out of reach, try recreating Friendly's Reese's Pieces ice cream sundae at home — or buy a carton of Friendly's to make one of Tasting Table's 27 ice cream recipes to satisfy your sweet cravings.
If you are lucky enough to live in or near one of the 11 states that hosts a Friendly's location, check out its renovations and pick up a Wattamelon Roll, which is the best dessert. If casual, sit-down dining is not your thing, you can enjoy Friendly's in the comfort of your own home after rolling through the drive-thru or snagging a pint at your local grocery store. Offering so many ways to enjoy it, Friendly's fresh takes provide something for everyone. With a little luck and continued strategizing, Friendly's just might remain an American staple for 90 more years to come.