Sbarro Pizza Files For Bankruptcy Protection For The 2nd Time

Posted: Mar 11 2014, 3:08am CDT | by , in News | Other Stuff

 

Sbarro Pizza Files for Bankruptcy Protection for the 2nd Time
Photo Credit: Sbarro
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Sbarro Pizza Files for Bankruptcy Protection for the second Time in three years.

Pizza chain Sbarro has filed for bankruptcy protection again according to Reuters. This is the second time the Pizza chain filed for bankruptcy protection in three years. The chain has a long history and was founded back in the 50s.

The company said in the filing that the reasons for the new bankruptcy are declining mall traffic and an unsustainable balance sheet, meaning the debt is too high.

Sbarro has supposedly about 800 restaurants in 40 countries. There will likely be many restaurants to be closed so Sbarro can come out again out of the bankruptcy protection.

The Sbarro bankruptcy story even caught the satirical eye of The Daily Show. Read the funny tweet below.

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The Author

<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Luigi Lugmayr () is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com.

 

 

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time | files | pizza