LEWISTON — Friendly’s parent company has filed for Chapter 11 bankruptcy protection and has closed 63 restaurants nationwide, including the one on Sabattus Street.
Two others in Maine — on Main Street in Freeport and High Street in Ellsworth — also closed Tuesday night.
The restaurants each employed about 20 people, said Friendly’s spokesman Rich Tauberman. He said those workers have been encouraged to seek transfers to other Friendly’s restaurants.
Six Friendly’s remain open in Maine: in Augusta, Brunswick, Portland, South Portland, Waterville and Windham. They are expected to be open for business as usual as the company restructures.
The 76-year-old Massachusetts-based company said in a press release that it filed for Chapter 11 because of the poor economy, increased costs in cream and other goods, high rents and other company liabilities. It closed restaurants that it considered to be under performing.
The company said it had obtained $70 million in financing to help meet its ongoing obligations to the 424 restaurants that remain open nationwide.
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- Friendly’s on Sabattus Street in Lewiston closed for good Tuesday night.
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- Friendly’s on Sabattus Street in Lewiston closed for good Tuesday night.
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