Friendly Ice Cream Corp. files for Ch. 11

Friendly Ice Cream Corp., parent to the Friendly’s family-dining chain, said Wednesday it has filed for Chapter 11 bankruptcy protection, closed 63 of its nearly 500 locations and secured about $70 million in debtor-in-possession financing to begin restructuring.

The company said it will undertake a sale process and that its current owner, private-equity firm Sun Capital Partners, is the lead bidder.

Wilbraham, Mass.-based Friendly Ice Cream said 424 Friendly&rs

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