Is Nostalgia Enough To Save Friendly's? Industry experts say the iconic ice-cream parlor, which has filed for bankruptcy protection, has been hurt by the down economy. But Friendly's may also have crossed the line from classic oldie to obsolete.

Is Nostalgia Enough To Save Friendly's?

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The iconic ice cream parlor chain Friendly's filed for bankruptcy this morning. As NPR's Tovia Smith reports, the company has been struggling in a down economy and changing marketplace.

TOVIA SMITH, BYLINE: Ever since two brothers opened the first Friendly's ice cream shop in Massachusetts 75 years ago, the company has been serving up as much family and feel-good as it has burgers and treats.

LISA LANE: My grandma would take me and my brother out and we would always get the watermelon slice. Ah, the watermelon slice.

SMITH: Fans like 23-year-old Lisa Lane helped Friendly's expand to more than 600 locations by the '80s. This week, at a Friendly's in Watertown, when rumors first started to swirl about a possible bankruptcy, it drew a visceral reaction.

MICHELE MEDERIOS: Oh, that's so sad. I love Friendly's.

SMITH: Forty-six-year-old Michele Mederios still takes her kids for the same Fribble milkshakes and clown-face ice cream cones she got as a kid.

MEDERIOS: It's, you know, a happy family memory, you know? It's a shame. I'd be sad to see them go. I don't know what would take the place of Friendly's.

SMITH: Industry experts say the ice-cream parlors - half of which are franchise-owned - have been hurt by the down economy, but also Friendly's may have crossed the line from classic oldie to obsolete.

CHRISTOPHER MULLER: Friendly's is an anachronism, really. It's a restaurant model that is no longer viable.

SMITH: Christopher Muller, dean of hospitality administration at Boston University, says it's hard for family coffee shops like Friendly's to offer waiter service and still compete with fast-food prices.

MULLER: It's really in a squeeze from both the top and the bottom, and it's really been a slow downward trend.

SMITH: Indeed, Friendly's, owned by a private equity firm since 2007, has consistently lagged behind competitors like Cracker Barrel and IHOP. A recent survey ranks it near last on value, atmosphere and service.

ABBY EMARA: Actually, my husband wanted to go there for ice cream the other night, and I said nah.

SMITH: Fifty-seven-year-old Abby Emara says she rarely goes to Friendly's anymore.

EMARA: They kind of look a little run-down. I mean, you kind of get like a sticky feeling when you go in there.

SMITH: While Friendly's officials were not available to comment by deadline, the company's new CEO, Harsha Agadi, has been working on changes, including a major retraining and renovation plan.

HARSHA AGADI: We are announcing the rebirth of the brand by starting to redo 17 restaurants in Albany. As of...

SMITH: Friendly's also recently launched several new concept Friendly's Express self-serve stores, and menus have been made more healthy and affordable.


SMITH: But is it too little too late?

DENNIS LOMBARDI: We've watched over the years a number of restaurant chains kind of stub their toe, so to speak, and then recover.

SMITH: Consultant Dennis Lombardi says bankruptcy might be just what Friendly's needs to ditch its unprofitable stores and rebuild.

LOMBARDI: This is not, in my mind, about Friendly's disappearing. In fact, I think it's reasonably likely that you're going to see Friendly's a stronger brand five years from now.

SMITH: On its website, Friendly's chronicles its 75-year history of creating, quote, "family memories for generations." What's uncertain now is whether future generations will be creating memories there too. Tovia Smith, NPR News.

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