Friendly to explore ‘strategic alternatives’

WILBRAHAM Mass. With a dissident stockholder publicly blasting its financial performance, Friendly Ice Cream Corp. said it would explore “strategic alternatives to enhance shareholder value,” language that often presages a sale or refinancing.

The company, whose main business is a namesake, 514-unit family restaurant chain, said it has retained Goldman Sachs & Co. as a financial advisor and Weil, Gotshal & Manges LLP as a legal advisor to assist in the process

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