Home / Business and Economy / Friendly's: From 850 Stores to Under 100 - Can Nostalgia Save It?
Friendly's: From 850 Stores to Under 100 - Can Nostalgia Save It?
19 Sep
Summary
- Friendly's, once a chain of 850 restaurants, now operates fewer than 100 locations.
- The brand's legacy and ice cream are seen as assets for potential revival.
- A marketing professor believes nostalgia can help Friendly's adapt to modern tastes.
Friendly's, a once-thriving restaurant chain known for its ice cream and family dining, has seen a dramatic decline, shrinking from approximately 850 locations to fewer than 100 across 11 states.
Founded in 1935, the brand experienced significant growth, reaching 500 restaurants by 1974. Despite introducing new menu items and expanding its ice cream distribution, the company has faced bankruptcy filings in 2011 and again in November 2020.
In 2021, Amici Partners Group acquired Friendly's, aiming to revitalize the 130-store chain. However, current reports indicate only 87 locations remain, with 22 of those in Massachusetts.
Marketing professor Barbara E. Kahn believes Friendly's still has potential, emphasizing that nostalgia and its ice cream legacy are significant assets. She advises the brand to capitalize on these strengths while modernizing its offerings and adapting to evolving consumer preferences to ensure its survival.
