<PAGE>   1
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-K

[ X ] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
      ACT OF 1934 FOR THE FISCAL YEAR ENDED OCTOBER 31, 1997

[   ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES 
      EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ________ TO ________

                         Commission file number: 0-2396

                           BRIDGFORD FOODS CORPORATION
                           ---------------------------
             (Exact name of Registrant as specified in its charter)

        California                                             95-1778176
-------------------------------                            -------------------
(State or other jurisdiction of                             (I.R.S. Employer
 incorporation or organization)                            Identification No.)

1308 North Patt Street, Anaheim, California                        92801
-------------------------------------------                      ----------
 (Address of principal executive offices)                        (Zip code)

                                 (714) 526-5533
              ----------------------------------------------------
              (Registrant's telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:  None

Securities registered pursuant to Section 12(g) of the Act:

                     Common Stock, par value $1.00 per share
                     ---------------------------------------
                                (Title of class)

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. YES   X    NO
                                       -----     -----

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained, to the
best of registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
form 10-K.    X
            -----

The aggregate market value of voting stock held by non-affiliates of the
registrant on January 12, 1998 was $48,045,000.

Indicate the number of shares outstanding of each of the registrant's classes of
common stock, as of the latest practicable date: 10,336,415 shares of Common
Stock, par value of $1.00 per share, as of January 12, 1998.

DOCUMENTS INCORPORATED BY REFERENCE

Items 5, 6, 7 and 8 of Part II are incorporated by reference from the
registrant's Annual Report to Shareholders for the fiscal year ended October 31,
1997. Items 10, 11, 12 and 13 of Part III are incorporated by reference from the
registrant's Proxy Statement for the Annual Meeting of Shareholders to be held
March 11, 1998.


<PAGE>   2

                                     PART I
                                     ------

ITEM 1.                             BUSINESS

         Background of Business
         ----------------------

         Bridgford Foods Corporation, a California corporation (collectively
with its subsidiaries, the "Company"), was organized in 1952. The Company
originally began its operations as a retail meat market in San Diego,
California, and evolved into a meat wholesaler for hotels and restaurants, a
distributor of frozen food products, a processor and packer of meat and a
manufacturer and distributor of frozen food products for sale on a retail and
wholesale basis. For more than the past five years, the Company and its
subsidiaries have been primarily engaged in the manufacturing, marketing and
distribution of an extensive line of frozen, refrigerated and snack food
products throughout the United States. The Company has not been involved in any
bankruptcy, receivership or similar proceedings, nor has it been party to any
merger, acquisition, etc. or acquired or disposed of any material amounts of
assets during the past five years. Substantially all of the assets of the
Company have been acquired in the ordinary course of business. The Company had
no significant change in the type of products produced or distributed, nor in
the markets or methods of distribution since the beginning of the fiscal year.

Certain statements in this report constitute "forward-looking statements" within
the meaning of the Securities Act of 1933 and the Securities Exchange Act of
1934. Such forward looking statements involve known and unknown risks,
uncertainties, and other factors which may cause the actual results,
performance, or achievements of Bridgford Foods Corporation to be materially
different from any future results, performance or achievements expressed or
implied by such forward looking statements. Such factors include, among others,
the following: general economic and business conditions; the impact of
competitive products and pricing; success of operating initiatives; development
and operating costs; advertising and promotional efforts; adverse publicity;
acceptance of new product offerings; consumer trial and frequency; changes in
business strategy or development plans; availability, terms and deployment of
capital; availability of qualified personnel; commodity, labor, and employee
benefit costs; changes in, or failure to comply with, government regulations;
weather conditions; construction schedules; and other factors referenced in this
report.

         Description of Business
         -----------------------

         The Company operates in one business segment - the manufacture and
distribution of frozen, refrigerated and snack food products. The products
manufactured and distributed by the Company consist of an extensive line of food
products, including a variety of sliced luncheon meats and cheeses, wieners,
bacon, sandwiches, dry sausages, biscuits, bread dough items and roll dough
items. The products purchased by the Company for resale include a variety of
jerky, cheeses, salads, party dips, Mexican foods, nuts and other delicatessen
type food products. In the aggregate, the Company manufactures or distributes a
product line consisting of a total of approximately 450 food products.

<TABLE>
<CAPTION>

                                                                 1997        1996        1995
                                                                 ----        ----        ----
<S>                                                             <C>          <C>         <C>
Products manufactured or processed by the Company                  82%         83%         85%
Items manufactured or processed by third parties for 
distribution                                                       18%         17%         15%
                                                                 ----        ----        ----
                                                                  100%        100%        100%
                                                                 ====        ====        ====
</TABLE>



                                       1

<PAGE>   3

         Although the Company has recently introduced several new products, none
of these products have contributed significantly to the Company's revenue growth
for the fiscal year. The Company's sales are not subject to material seasonal
variations. Historically the Company has been able to respond quickly to the
receipt of orders and, accordingly, the Company does not maintain a significant
sales backlog. The Company and its industry generally have no unusual demands or
restrictions on working capital items. The Company is not dependent upon a
single customer, or a few customers, the loss of which would have a material
adverse effect on the Company's results of operations. During the last fiscal
year the Company did not enter into any new markets or any significant
contractual or other material relationships.

         The Company has two classes of similar food products, each of which has
accounted for 10% or more of consolidated sales in the prior three fiscal years
listed below. The following table shows sales, as a percentage of consolidated
sales, for each of these two classes of similar products for each of the last
three fiscal years:


<TABLE>
<CAPTION>

                                                             1997         1996         1995
                                                             ----         ----         ----
<S>                                                         <C>          <C>          <C>
         Frozen Food Products                                  44%          44%          46%

         Refrigerated and Snack Food Products                  56%          56%          54%
                                                             ----         ----         ----
                                                              100%         100%         100%
                                                             ====         ====         ====
</TABLE>



         To date, federal, state and local environmental laws and regulations,
including those relating to the discharge of materials into the environment,
have not had a material effect on the Company's business.

         Product Planning and Research and Development
         ---------------------------------------------

         The Company continually monitors the consumer acceptance of each
product within its extensive product line. Individual products are regularly
added to and deleted from the Company's product line. The addition or deletion
of any product has not had a material effect on the Company's operations. The
Company believes that a key factor in the success of its products is its system
of carefully targeted research and testing of its products to ensure high
quality and that each product matches an identified market opportunity. The
emphasis in new product introductions in the past few years has been in
microwaveable, single service items. The Company is constantly searching to
develop new products to complement its existing product line and improved
processing techniques and formulas for its existing product line. The Company
utilizes an in-house test kitchen to research and experiment with unique food
preparation methods, improve quality control and analyze new ingredient
mixtures. The Company does not anticipate any significant change in product-mix
as a result of its research and development efforts.

         Marketing, Sales and Distribution 
         ---------------------------------

         The Company markets and sells its products with its own sales force,
brokers, cooperatives, wholesalers and independent distributors. Currently,
products are sold by the Company's own sales force to approximately 25,200
retail food stores located in 49 states and Canada. In addition, the Company
sells its products through wholesalers, cooperatives and 



                                       2


<PAGE>   4

distributors to approximately an additional 18,000 retail outlets and 19,000
restaurants and institutions.

         The Company's annual advertising expenditures are directed towards
retail and institutional customers. These customers participate in various
special promotional programs including "slotting" and direct advertising
allowances sponsored by the Company. The Company also invests in general
consumer advertising in various newspapers and periodicals. The Company directs
advertising at food service customers with campaigns in major industry
publications and through Company participation in trade shows throughout the
United States.

         Competition
         -----------

         The products of the Company are sold under highly competitive
conditions. All food products can be considered competitive with other food
products, but the Company regards its principal competitors to include national,
regional and local producers and distributors of refrigerated, frozen and snack
food products. Several of the Company's competitors include large companies with
substantially greater financial and marketing resources than those of the
Company. Existing competitors may broaden their product lines and potential
competitors may enter or increase their focus on the Company's market, resulting
in greater competition for the Company. The Company believes that its products
compete favorably with those of the Company's competitors. Such competitors'
products compete against those of the Company for retail shelf space,
institutional distribution and customer preference.

         Employees
         ---------

         At the end of fiscal 1997, the Company had approximately 640 employees,
approximately one-half of whose employment relationship with the Company was
governed by collective bargaining agreements. These agreements currently expire
between February 1998 and March 2000. The Company believes that its relationship
with its employees is good. A significant agreement , which expires in February
1998, is currently being renegotiated. There are no other significant ongoing
negotiations with union employees.

         Raw Materials
         -------------

         Although the Company has numerous sources of raw materials, the
availability of raw materials is subject to some volatility. From time to time
drought or flood conditions affect the cost of grain products adversely in the
short run, and costs of meat products in the subsequent two to five year cycle.
Similarly, periods of surplus grain products, usually occasioned by favorable
growing weather and adequate moisture, result in an increased supply and
lowering of grain costs in ensuing seasons. Government commodity programs and
export enhancement programs can also have material effects on commodity prices.
These programs are generally not predictable beyond published information.


ITEM 2.  PROPERTIES

         The Company owns its headquarters and plant located in Anaheim,
California, a 100,000 square-foot processing facility located on five acres of
land. The Company owns a 146,000 square-foot processing facility on 1-1/2 acres
of land in Chicago, Illinois. In Dallas, Texas, facilities include a 91,000
square-foot food processing facility on 3-3/4 acres of land, a 4,000 square foot
warehouse facility on 1.5 acres of land and a 28,000 square foot food processing
facility on 1-3/4 acres of land. In Statesville, North Carolina, a new 42,000
square foot, state of 



                                       3


<PAGE>   5

the art frozen food plant was completed in April 1996. The foregoing plants are,
in general, fully utilized by the Company for processing, warehousing,
distributing and administrative purposes. In addition, the Company owns an
unoccupied 2,500 square-foot warehouse on 1/3 acre of land in Modesto,
California. The Company also owns 1/4 acre of land in San Diego, California.
This land is currently being leased to a third party. The Company leases
warehouse and/or office space in Oakland, California, Phoenix and Tucson,
Arizona. The Company's properties are adequate to satisfy its foreseeable needs.
Additional properties may be acquired and/or plants expanded if favorable
opportunities and conditions arise.

ITEM 3.  LEGAL PROCEEDINGS

         No material legal proceeding was pending at October 31, 1997 against
the Company.

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

         No matters were submitted to the Company's shareholders during the
fourth quarter of the fiscal year ended October 31, 1997.


EXECUTIVE OFFICERS OF THE REGISTRANT

         The names, ages and positions of all the executive officers of the
Company as of January 1, 1998 are listed below. All executive officers are
full-time employees of the Company. Messrs. Hugh Wm. Bridgford and Allan L.
Bridgford are brothers. Officers are normally appointed annually by the board of
directors at their meeting immediately following the annual meeting of
shareholders.

Name                     Age     Position(s) with the Company
----                     ---     ----------------------------
Allan L. Bridgford       62      Chairman and member of the Executive Committee

Robert E. Schulze        63      President and member of the Executive Committee

Hugh Wm. Bridgford       66      Vice President and Chairman of the Executive 
                                 Committee

Salvatore F. DeGeorge    66      Senior Vice President

Lawrence D. English      66      Vice President





                                       4

<PAGE>   6


                                     PART II


ITEM 5.  MARKET FOR THE REGISTRANT'S COMMON STOCK AND RELATED SHAREHOLDER
         MATTERS

         The Company's Common Stock, par value $1.00 per share (the "Common
Stock"), is traded in the over-the-counter market and prices are quoted on The
Nasdaq National Market under the symbol "BRID." As of January 1, 1998, there
were 566 holders of record of the Company's Common Stock. The market price and
dividend information with respect to the Company's Common Stock are set forth on
the inside cover of the Company's 1997 Annual Report to Shareholders
incorporated herein by reference. Future dividends will be dependent upon future
earnings, financial requirements and other factors.

ITEM 6.  SELECTED FINANCIAL DATA

         The information set forth on page 4 of the Company's 1997 Annual Report
to Shareholders is incorporated herein by reference.

ITEM 7.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND 
         RESULTS OF OPERATIONS

         The information set forth on pages 4 and 5 of the Company's 1997 Annual
Report to Shareholders is incorporated herein by reference.

ITEM 8.  FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

         The information set forth on pages 6 through 11 of the Company's 1997
Annual Report to Shareholders in the sections thereof entitled "Consolidated
Balance Sheets", "Consolidated Statements of Income", "Consolidated Statements
of Shareholders' Equity", "Consolidated Statements of Cash Flows", "Notes to
Consolidated Financial Statements" and "Report of Independent Accountants" is
incorporated herein by reference.

ITEM 9.  CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND 
         FINANCIAL DISCLOSURE

         Not applicable.





                                       5



<PAGE>   7


                                    PART III

ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

         Information set forth in the Company's definitive proxy statement for
the 1998 Annual Meeting of Shareholders to be held on March 11, 1998 is
incorporated herein by reference. Information concerning the executive officers
of the Company is set forth in Part I hereof under the heading "Executive
Officers of the Registrant."

ITEM 11. EXECUTIVE COMPENSATION

         Information set forth in the Company's definitive proxy statement for
the 1998 Annual Meeting of Shareholders to be held on March 11, 1998 is
incorporated herein by reference.

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

         Information set forth in the Company's definitive proxy statement for
the 1998 Annual Meeting of Shareholders to be held on March 11, 1998 is
incorporated herein by reference.

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

         Information set forth in the Company's definitive proxy statement for
the 1998 Annual Meeting of Shareholders to be held on March 11, 1998 is
incorporated herein by reference.







                                       6



<PAGE>   8


                                     PART IV

ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K

         (a) The following documents are filed as a part of this report:

             (1) Financial Statements. See "Index to Consolidated Financial
                 Statements" included in this report.

             (2) Financial Statement Schedules. See "Index to Consolidated
                 Financial Statements" included in this report.

             (3) Exhibits. The exhibits filed as a part of this report are
                 listed in the accompanying "Index to Exhibits".

         (b)  Report on Form 8-K. The Company did not file a Current Report on
              Form 8-K during the quarter ended October 31, 1997.









                                       7



<PAGE>   9


                                   SIGNATURES
                                   ----------

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.

                                        BRIDGFORD FOODS CORPORATION

                                        By:  /s/ Allan L. Bridgford
                                             ----------------------------------
                                             Allan L. Bridgford, Chairman

                                             Date:  January 23, 1998

Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been signed below by the following persons on behalf of the registrant and
in the capacities and on the dates indicated.

<TABLE>
<CAPTION>

       Signature                        Title                           Date
       ---------                        -----                           ----
<S>                                   <C>                         <C>
  /s/ Allan L. Bridgford               Chairman                    January 23, 1998
  -------------------------
  Allan L. Bridgford

  /s/ Robert E. Schulze                President                   January 23, 1998
  -------------------------
  Robert E. Schulze

  /s/ Hugh Wm. Bridgford               Vice President              January 23, 1998
  -------------------------
  Hugh Wm. Bridgford

  /s/ Paul A. Gilbert                  Director                    January 23, 1998
  -------------------------
  Paul A. Gilbert

  /s/ John W. McNevin                  Director                    January 23, 1998
  -------------------------
  John W. McNevin

  /s/ Steven H. Price                  Director                    January 23, 1998
  -------------------------
  Steven H. Price

  /s/ Norman V. Wagner II              Director                    January 23, 1998
  -------------------------
  Norman V. Wagner II

  /s/ Paul R. Zippwald                 Director                    January 23, 1998
  -------------------------
  Paul R. Zippwald

</TABLE>







                                       8



<PAGE>   10
                           BRIDGFORD FOODS CORPORATION
                           ---------------------------

                   INDEX TO CONSOLIDATED FINANCIAL STATEMENTS
                   ------------------------------------------


         The consolidated financial statements of the Registrant and its
subsidiaries, including the report thereon of Price Waterhouse LLP dated
December 19, 1997, appearing on pages 6 through 11 of the accompanying 1997
Annual Report to Shareholders are incorporated by reference in this Annual
Report on Form 10-K. With the exception of the aforementioned information and
the information incorporated in Items 5, 6, 7 and 8, the 1997 Annual Report to
Shareholders is not to be deemed filed as part of this Annual Report on Form
10-K. The following Financial Statement Schedules should be read in conjunction
with the financial statements in such 1997 Annual Report to Shareholders.
Financial Statement Schedules not included with this Annual Report on Form 10-K
have been omitted because they are not applicable or the required information is
shown in the financial statements or notes thereto.

                                                                      Page
                                                                      ----
Report of Independent Accountants on Financial
  Statement Schedules                                                  F-1

Financial Statement Schedules for the three years 
  ended October 31, 1997:

    Schedule VIII - Valuation and Qualifying Accounts
    Accounts                                                           F-2

    Schedule X - Supplementary Income Statement Information            F-3








                                       9

<PAGE>   11


                      REPORT OF INDEPENDENT ACCOUNTANTS ON
                      ------------------------------------

                          FINANCIAL STATEMENT SCHEDULES
                          -----------------------------

                                       F-1



To the Board of Directors of
  Bridgford Foods Corporation

Our audits of the consolidated financial statements referred to in our report
dated December 19, 1997 appearing on page 11 of the 1997 Annual Report to
Shareholders of Bridgford Foods Corporation (which report and consolidated
financial statements are incorporated by reference in this Annual Report on Form
10-K) also included an audit of the Financial Statement Schedules listed in Item
14(a) of this Form 10-K. In our opinion, these Financial Statement Schedules
present fairly, in all material respects, the information set forth therein when
read in conjunction with the related consolidated financial statements. 

/s/Price Waterhouse LLP 
Costa Mesa, California 
December 19, 1997


<PAGE>   12


                           BRIDGFORD FOODS CORPORATION
                                  SCHEDULE VIII
                        VALUATION AND QUALIFYING ACCOUNTS
                                       F-2


<TABLE>
<CAPTION>

                                                    Provision for           Accounts          Balance at
                               Balance at             losses on            written off           close
                               beginning              Accounts                less                of
                               of period             Receivable            Recoveries           period
                               ----------           -------------          -----------        -----------
<S>                           <C>                   <C>                    <C>                <C>

                                                          November 3, 1995
                                                          ----------------

Allowance for
doubtful
accounts                        $470,582               $138,650              $103,609            $505,623
                                ========               ========              ========            ========


                                                          November 1, 1996
                                                          ----------------

Allowance for
doubtful
accounts                        $505,623               $139,150              $141,188            $503,585
                                ========               ========              ========            ========

                                                          October 31, 1997
                                                          ----------------

Allowance for
doubtful
accounts                        $503,585               $149,150               $75,579            $577,156
                                ========               ========               =======            ========

</TABLE>





<PAGE>   13


                           BRIDGFORD FOODS CORPORATION
                                  SCHEDULE VIII
                   SUPPLEMENTARY INCOME STATEMENT INFORMATION
                   ------------------------------------------
                                       F-3



                               Fiscal Years Ended
                               ------------------



<TABLE>
<CAPTION>

                               October 31,               November 1,             November 3,
                                  1997                      1996                    1995
                                  ----                      ----                    ----
<S>                           <C>                        <C>                       <C>
Maintenance
and repairs                    $3,271,143                 $3,220,610                $3,170,683
                               ==========                 ==========                ==========


Advertising
costs                          $7,491,989                 $6,184,915                $5,530,868
                               ==========                 ==========                ==========
</TABLE>


Taxes other than payroll and income taxes, are less than 1% of total sales as
reported in the related income statements.





<PAGE>   14

                           BRIDGFORD FOODS CORPORATION

                                INDEX TO EXHIBITS
                                -----------------

<TABLE>
<CAPTION>

Exhibit
  No.                                                                                                          Page No.
-------                                                                                                        --------
<S>    <C>                                                                                                      <C>
3.1    Articles of Incorporation (filed as Exhibit 1 to Form 10 and incorporated herein by reference).           NA

3.2    Amendment to Articles of Incorporation dated June 24, 1954 (filed as Exhibit 1-a to Form 10 and           NA
       incorporated herein by reference).

3.3    Amendment to Articles of Incorporation dated September 30, 1955 (filed as Exhibit 1-c to Form 10          NA
       and incorporated herein by reference).

3.4    Amendment to Articles of Incorporation dated April 3, 1963 (filed as Exhibit 1-c to Form 10 and           NA
       incorporated herein by reference).

3.5    Restated Articles of Incorporation, dated December 29, 1989 (filed as                                     NA
       Exhibit 3.5 to Form 10 on January 28, 1993 and incorporated herein by
       reference).

3.6    Amendment to Articles of Incorporation, dated July 27, 1990 (filed as Exhibit 3.6 to Form 10 on           NA
       January 28, 1993 and incorporated herein by reference).

3.7    By-laws, as amended (filed as Exhibit 2 to Form 10 and incorporated herein by reference).                 NA

10.1   Bridgford Foods Corporation Defined Benefit Pension Plan (filed as
       Exhibit NA 10.1 to Form 10 on January 28, 1993 and incorporated herein by
       reference).

10.2   Bridgford Foods Corporation Supplemental Executive Retirement Plan (filed as Exhibit 10.2 to Form         NA
       10 January 28, 1993 and incorporated herein by reference).

10.3   Bridgford Foods Corporation Deferred Compensation Savings Plan. (filed as Exhibit 10.3 to Form 10         NA
       January 28, 1993 and incorporated herein by reference).

13.1   1997 Annual Report to Shareholders.                                                                       --

22.1   Subsidiaries of the Registrant.                                                                           15

27.1   Financial Data Schedule for the fiscal year ended October 31, 1997
       submitted to the Securities Exchange Commission in electronic format (for
       SEC information only).

</TABLE>