Pizza chain Sbarro files for Chapter 11 bankruptcy
Posted on Thursday, March 20th, 2014 at 10:01 pm
After closing at least 155 stores in the U.S. last month, pizza chain Sbarro filed for bankruptcy on March 10 in order to address their financial woes, USA Today reported.
Reports stated that the Chapter 11 filing of the New York-based pizza maker is a strategy to salvage the company from their overwhelming debt, recollect their finances, and to gain more revenue. Another recent article stated that Sbarro and its competitor Quiznos reportedly suffered market losses to other competitors. This is the second time that Sbarro has filed for bankruptcy since 2010.
Sbarro said the 600 franchises worldwide will not be affected by the bankruptcy filing.
Struggling with financial difficulties can be difficult and frustrating for a business owner. Fortunately, there are legal options available to businesses in Raleigh in this situation. To learn more about them, speak with a lawyer from the Bradford Law Offices, PLLC, by calling (919) 758-8879.