Beloved restaurant chain dwindles from 850 locations to 87, but expert sees 'a lot of life left'

A casual-dining chain known for its ice-cream desserts, burgers and family atmosphere that once operated roughly 850 restaurants has dwindled to fewer than 100 locations in 11 states.

Friendly's was founded as the "Friendly" ice-cream shop in Springfield, Massachusetts, by "spunky" brothers Prestley and Curtis Blake in 1935 — at the height of the Great Depression, according to the company's website.

The two young entrepreneurs — Prestley was 20 years old and Curtis was just 18 — sold double-dip cones for 5 cents.