UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES AND EXCHANGE ACT OF 1934
Date of Report: May 16, 2002
(Date of earliest event reported: May 15, 2002)
FRIENDLY ICE CREAM CORPORATION
(Exact name of registrant as specified in its charter)
MASSACHUSETTS 0-3930 04-2053130
(I.R.S. Employer
(State of Incorporation) (Commission File Number) Identification No.)
1855 BOSTON ROAD
WILBRAHAM, MASSACHUSETTS 01095
(Address, including zip code of registrant's principal executive offices)
Registrant's telephone number, including area code: (413) 543-2400
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
On May 15, 2002, Friendly Ice Cream Corporation (the "Company"), a
Massachusetts corporation, terminated the engagement of Arthur Andersen LLP as
its independent auditor. The decision to terminate the engagement of Arthur
Andersen was recommended by the Company's Audit Committee and approved by its
full Board of Directors.
Arthur Andersen's report on the financial statements of the Company
for each of the years ended December 31, 2000 and December 30, 2001 did not
contain an adverse opinion or a disclaimer of opinion and was not qualified
or modified as to uncertainty, audit scope or accounting principles.
During the years ended December 31, 2000 and December 30, 2001 and
the interim period between December 30, 2001 and May 15, 2002, there were no
disagreements between the Company and Arthur Andersen on any matter of
accounting principles or practices, financial statement disclosure or
auditing scope or procedure, which disagreements, if not resolved to the
satisfaction of Arthur Andersen, would have caused it to make reference to
the subject matter of the disagreements in connection with its report. During
the years ended December 31, 2000 and December 30, 2001 and the interim
period between December 30, 2001 and May 15, 2002, there were no reportable
events (as defined in Item 304(a)(1)(v) of Regulation S-K promulgated by the
Securities and Exchange Commission). A letter from Arthur Andersen is
attached as Exhibit 16.1 to this Report.
The Company has engaged Ernst & Young LLP as its new independent
auditor, effective May 15, 2002. During the years ended December 31, 2000 and
December 30, 2001 and the interim period between December 30, 2001 and May
15, 2002, the Company did not consult with Ernst & Young regarding (i) the
application of accounting principles to a specified transaction, either
completed or proposed, (ii) the type of audit opinion that might be rendered
on the Company's financial statements or (iii) any matter that was either the
subject of a disagreement (as described above) or a reportable event.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits:
16.1 Letter of Arthur Andersen LLP regarding change in certifying
accountant.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
FRIENDLY ICE CREAM CORPORATION
By: /s/ Paul V. Hoagland
---------------------------------
Name: Paul V. Hoagland
Title: Senior Vice President,
Chief Financial Officer, Treasurer
and Assistant Clerk
Date: May 16, 2002
EXHIBIT INDEX
16.1 Letter of Arthur Andersen LLP regarding change in certifying
accountant.