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    Sbarro Pizza Could File for Bankruptcy Within a Week

    By Ryan Christopher DeVault | Yahoo! Contributor Network – Fri, Apr 1, 2011
    This story comes from the Yahoo! Contributor Network, where individuals publish their unique perspectives on some of the world’s most popular websites.
    Do you have a story to tell? Become a Yahoo! contributor

    It appears Sbarro Pizza is heading for bankruptcy. The rumor is that the company may file for Chapter 11 bankruptcy as soon as Monday, and this might be the last gasp to try to make the company profitable.

    According to the Wall Street Journal, Sbarro has entered talks with creditors to help deal with the $365 million in debt the company has accrued. That's quite a bit of debt, and it certainly shows what the environment in the business world is at this point. It also shows that the company might still have a future if it is able to get through the bankruptcy proceedings.

    This is a company that was financed by Bank of America Corp and MidOcean Partners, which bought the company in 2007 through a $400 million buyout. It seems that this investment hasn't turned out to be as profitable as any of the investors had hoped, and now a serious effort will need to be undertaken in order to save the restaurant chain.

    It looks like the Chapter 11 filing could come as soon as Monday, April 4, in New York, and it will be the next major step in trying to get this company back into the black. It certainly throws up a number of red flags for future investors, though, especially with how much debt the owners who took over in 2007 have racked up in just the last three-plus years.

    In the end, this could be one of those business problems that doesn't affect the customers coming up to the cash registers. If those in charge of the company are intent on saving jobs and keeping the restaurants open, then that is exactly what is going to happen. If, however, the intent becomes to cut costs anyway possible, then there could definitely be some restaurants closed and some people losing their source of income.

    It's worth noting that most people know of Sbarro as a restaurant chain that is often found in big malls. It is really a niche type product in many areas of the country, and there are some communities that might find the cost of eating there quite prohibitive. With a slice of pizza approaching $4 and a drink set at about $2 more, it isn't an inexpensive prospect for a family to stop in for some lunch while they are visiting the mall. Maybe that is something that the company should also try to address.

    Reference:

    Sbarro_Website

     

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