Friendly's was founded in 1935 in Springfield, Mass. Specializing in mostly burgers and shakes, the chain embraced the pre-war neighborhood diner atmosphere and was a beloved nostalgia.
Unfortunately, Friendly's clung to a dated design without plans for improvement. It struggled during the pandemic without delivery or curbside options.
Southern fast-food giant Krystal fell on hard times in 2020, causing it to file for Chapter 11 bankruptcy. Due to the pandemic, the slider chain's sales are down 11% since 2019.
"The actions we are taking are intended to enable Krystal to establish a stronger business for the future and to achieve a restructuring in a fast and efficient manner,
Ninety-year-old Steak 'n Shake has been struggling with stiff burger competition for decades. Last year, the chain was inching closer to bankruptcy before suddenly paying off its loan
just weeks before it was due. Directly after, the chain sued its lender, Fortress Investment Group, claiming the company schemed to gain control of its assets during that time.
For a moment, it seemed like even the "World's Greatest Hamburgers" weren't enough to save Fuddruckers from extinction.
The chain's parent company Luby's was hit hard during the pandemic. The Texas-based cafeteria chain was in the middle of its liquidation proceedings when Black Titan Franchise