Friendly's

Friendly's repeated bankruptcies (2011, 2020) illustrate how organisms can enter extinction spirals where each near-death leaves them weaker. The New England ice cream restaurant's first bankruptcy shed 63 locations; COVID triggered a second. Like a species with declining genetic diversity after population crashes, Friendly's emerged from each crisis less capable of surviving the next. Sun Capital's ownership exemplifies how PE can keep organisms technically alive while draining vitality.