🠈 Sbarro 🠊

Sbarro Pizza

Sbarro is a mall based pizza chain established in 1970 by the Salumeria Italian Food stores. Salumeria itself was the creation of Italian immigrants Gennaro and Carmela Sbarro who came from Naples in 1956.

The restaurant chain expanded throughout the US and 44 countries by 2007 when it was acquired by MidOcean Partners;

The on going recession has been hard on the pizza business. Sbarro's followed other pizza chains and filed for Chapter 11 on April 4, 2011. Sbarro announced a new management team in January 2012.

In this video, CompanyMan talks about the rise and decline of the chain. (Spoiler, the chain tied its fortune to malls.)

Corporate Timeline

1956: Gennaro and Carmela Sbarro opened Salumeria Italian Food in Brooklyn.
1970: Sbarro opened a food court restaurant that sold pizza by the slice in Kings Plaza Shopping Center.
8/9/2001: A Palestinian suicide bomber killed 15 and injured 130 people the Sbarro in Jerusalem.
1984: Gennaro Sbarro passed away and sons took over.
1985: Sbarro went public.
1999: Sbarro family reacquired 100% of the company for $28.85 in a deal worth $389.5 million.
9/11/2001: The Sbarro in the World Trade Center was destroyed in a terrorist attack.
2007: MidOcean Partners acquired Sbarro.
2011: Sbarro declared Chapter 11.
2014: Sbarro, which had trimmed down to 899 restaurants declared a second bankruptcy with plans to close another 155 restaurants.
2014: Sbarro emerged from bankruptcy and moved its headquarters to Columbus, Ohio to cut costs
2016: Sbarro was down to 318 locations.

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References:

Wikipedia - Sbarro (Drawn 2/20/2020)
NY Times - Sbarro 2011 Bankruptcy (Drawn 2/20/2020)
Reuters - Sbarro Bankruptcy (Drawn 2/20/2020)
Funding Universe - Sbarro (Drawn 2/20/2020)

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