Report: Friendly's May File for Bankruptcy

The Friendly's restaurant chain may be filing for bankruptcy and sell itself at auction, the Wall Street Journal reported on Thursday.

Friendly Ice Cream Corp. employs 10,000 people and operates more than 500 restaurants across the country including one on ., Wantagh. Friendly's also has locations in nearby communities Levittown, Massapequa, East Meadow, Farmingdale and Hicksville.  

According to the Wall Street Journal, Friendly's currently carries more than $250 million in debt and is in talks with Wells Fargo & Co. Friendly's did not comment.