Fresh Italian cuisine makers Sbarro filed for bankruptcy last week. With over 1000 locations nationwide and a little over 10 spots in the South Florida region – the company is trying to remain alive therefore, filling for Chapter 11 Bankruptcy. The Long Island based franchise-listed assets of $471 million and a debt of approximately $487 million when filling documents at the U.S Bankruptcy Court in New York City.
Sbarro is looking to break ties from its creditors and restructure its fast food type Italian Cuisine. The cost of cheese and flour and the decline of mall traffic in 2008 was the killer combo that got Sbarro into such bad debt. According to the court filing, the restructuring will allow Sbarro to reduce its debt by $195 million and will also allow Sbarro to keep all of its locations open to the public.
A few local Sbarro Locations you can go and show your support to:
11401 NORTHWEST 12TH ST
MIAMI, FL 33172
20505 S. DIXIE HWY.
MIAMI, FL 33189
11401 PINES BLVD.
PEMBROKE PINES, FL 33026