Friendly's files for Ch. 11 bankruptcy protection | Business

NEW YORK (AP) - The parent of the Friendly's restaurant chain is filing for Chapter 11 bankruptcy protection and says it has already closed 63 of its stores -- including six in the Capital Region.

The 76-year-old company known for its ice cream and hamburgers says the economic downturn coupled with higher costs and high rents drove it to file for bankruptcy protection.

Friendly Ice Cream Corp., based in Wilbraham, Mass., says it has secured $70 million in financing and that its 424 remaining restaurants will stay open as it reorganizes under bankruptcy protection. Gift cards will continue to be honored.

It says the store closings and its reorganization efforts will better position it for the future.

Its current owners, Sun Capital Partners, will be the lead, or "stalking horse" bidders, in an auction process.

Here is a complete list of stores closing...

CAPITAL REGION

• Wolf Rd., Colonie
• Western Ave., Guilderland
• Delaware Ave., Elsmere
• Upper Glen St., Glens Falls
• Congress St., Saratoga Springs
• Altamont Ave., Rotterdam

CONNECTICUT

• Boston Post Rd., Guilford
• Buckland Mall, Manchester
• Main St., Meriden
• Storrs Rd./University Plaza, Storrs
• E. Main St., Torrington
• Waterbury Shopping Plaza, Waterbury
• South Main St., West Hartford

FLORIDA

• Service Road 64 East, Bradenton
• Citrus Tower Blvd., Clermont
• Eustis Plaza, Eustis
• S. Babcock St., Melbourne
• Collegiate Way, Orlando
• University Parkway, Sarasota

MASSACHUSSETS

• Massachusetts Ave., Acton
• Pleasant St., Attleboro
• Boston Rd., Billerica
• Broad St., Bridgewater
• Belmont St., Brockton
• Austin St., Charlestown
• East St., Chicopee
• Providence Pike, Dedham
• John Fitch Plaza, Fitchburg
• Central St., Foxboro
• Federal St., Greenfield
• Hanover Mall, Hanover
• Mall at Whitney Field, Leominster
• Monument Square, Leominster
• Main St., Medfield
• Chestnut St., Needham
• Independence Ave., Quincy
• Main St., Southbridge
• Wilbraham Rd., Springfield
• Washington St., Stoughton
• Broadway, Taunton
• Main St., Ware
• Cranberry Highway, Wareham
• West Boylston St., West Boylston
• Main St., West Harwich
• Westfield St., West Springfield
• Turnpike Rd., Westboro
• Church St., Whitinsville
• Main St., Worcester
• Park Ave., Worcester

MAINE

• High St., Ellsworth
• Main St., Freeport
• Sabattus St., Lewiston

NEW HAMPSHIRE

• Lafayette Rd., Portsmouth

NEW JERSEY

• Hamilton Plaza, Trenton

PENNSYLVANIA

• Easton Rd., Doylestown
• Coventry Mall, Pottstown
• Kingstown Rd., Wakefield-Kingston

RHODE ISLAND

• Warwick Ave., Warwick

VIRGINIA

• 2960 Boulevard, Colonial Heights
• Fribble Way, Midlothian
• Patterson Ave., Richmond
• Brook Rd., Richmond     

VERMONT

• Montpelier Rd., Berlin-Barre

(Copyright 2011 by The Associated Press.  All Rights Reserved.)