Friendly's
Sun Capital executed sale-leaseback on 160 properties, dumped $115M pension. Filed bankruptcy twice. Sold for just $2M — fraction of $337M Sun paid.
- FOUNDED
- 1935
- ACQUIRED
- Sun Capital Partners, 2007, $337 million
- IMPACTS
- 1 documented
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Editorial Record
maintained by DeathbyPE. Every claim links to a public source.Timeline
1935
Friendly's founded
2007
Acquired by Sun Capital Partners for $337 million
2020
Friendly's bankrupted twice under Sun Capital, sold for $2M
CriticalClosure / BankruptcySun Capital executed sale-leaseback on 160 properties, dumped $115M in pension obligations. Two bankruptcies. Eventually sold for just $2M — a fraction of the $337M Sun paid.
Before / After
MetricBefore PEAfter PEΔ
Restaurants
reported 2020
before ~500 restaurants
after ~130 restaurants
-74%
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