Sbarro

This article is about the American food chain. For the Swiss automobile producer, see Sbarro (automobile).
Sbarro LLC
Private
Industry Food
Founded Brooklyn, New York City, New York, U.S. (1956)
Headquarters Columbus, Ohio, U.S.
Number of locations
 Over 1,000
Key people
 Gennaro and Carmela Sbarro (founders) J. David Karam, CEO and President
Carolyn Spatafora, CFO
Anthony J. Missano, President Business Development
Stuart M. Steinberg, General Counsel
Products Italian-American cuisine, pizza, pasta, salads
Revenue $476 million (2010)[1]
Website www.Sbarro.com

Sbarro, LLC is a chain of pizza restaurants that specializes in New York style pizza and other Italian-American cuisine.[2] It is headquartered in Columbus, Ohio.[3]

History

A Sbarro restaurant in Santo Domingo, Dominican Republic.

Sbarro was founded by Gennaro and Carmela Sbarro. The couple and their three sons, Joseph, Mario, and Anthony immigrated to America from Naples, Italy, in 1956 with help from the Padovani family, who took them in. They gave Gennaro employment in their deli. The same year, the Sbarro family opened their first salumeria (an Italian grocery store) at 1701 65th Street and 17th Avenue in Bensonhurst, Brooklyn, New York, which became popular for its fresh food and genuine Italian fare. Their Sbarro Italian Delicatessen in Brooklyn was well received by the local community and was the first of a successful chain.[2]

The success of the Sbarro Salumeria led to the opening of additional locations throughout the New York City metropolitan area. In 1970, Sbarro opened its first mall-based restaurant in Brooklyn's Kings Plaza Shopping Center, marking the beginning of the modern Sbarro concept: Italian food in an open kitchen that allowed for fast self-service. One of their busiest outlets was located in the World Trade Center mall.

Since 1970, the Kings Plaza business model has expanded throughout the U.S. and over 44 countries around the world. In early 2007, Sbarro was acquired by MidOcean Partners, a private equity firm with offices in New York and London.[4] In 2008, Sbarro was rated the #1 Quick Service Restaurant in the Italian segment by Entrepreneur magazine. It has held this title multiple times over the years.[5]

On August 9, 2001, the Sbarro pizza restaurant in downtown Jerusalem, Israel, was the victim of a Palestinian suicide bomb attack that killed 15 people and wounded 130.

Sbarro restaurants are located in department stores, shopping malls, airports, service areas, cinemas and college campuses. Sbarro has over 1,000 locations in 44 countries.[6]

The company filed for Chapter 11 bankruptcy protection on April 4, 2011, listing assets of $471 million and debt of $486.6 million.[7] At the time it was ranked by Pizza Today as the country's fifth largest pizza chain.[8] It was the third large pizza chain to declare bankruptcy in less than a year. Earlier Round Table Pizza (ranked #10) and Uno Chicago Grill (ranked #11) through its parent Uno Restaurant Holdings filed bankruptcy. Uno has reemerged.[8] In November 2011, it was reported that Sbarro had been granted court approval to emerge from bankruptcy under a plan requiring restructuring and ceding ownership to lenders.[9]

On March 15, 2012, Sbarro announced a franchise agreement, with Upper Crust Foods Pvt. Ltd., to open restaurants in the Indian state of Maharashtra. The franchisee will develop and operate the restaurants.[10][11] The first outlet opened in Chembur, Mumbai.[12]

In March 2013, Sbarro announced that J. David Karam would be taking over as CEO and President of the company.[13]

In February 2014, the chain announced it would close 155 locations in North America, following a Standard & Poor's report that described the company's financial structure as "unsustainable" and suggested the possibility of a restructuring, "selective default", or another bankruptcy filing.[14]

On March 10, 2014, the chain again filed for chapter 11 bankruptcy.[15] Sbarro announced on June 3, 2014 that they exited bankruptcy protection on June 2 based on a reorganization plan that was approved by the court on May 19. As part of that plan, the company will relocate their headquarters from Melville, New York to Columbus, Ohio. [16]

Brands

Gallery

See also

References

  1. ↑ "Sbarro, Inc. Announces Results of Operations for the Year Ended December 31, 2010" (Press release). Sbarro, Inc.
  2. ↑ 2.0 2.1 "About Us". Sbarro. Retrieved 2011-04-11.
  3. ↑ "Contact Us." Sbarro. Retrieved on March 5, 2010.
  4. ↑ "History". Sbarro, Inc.
  5. ↑ "Domestic Franchising". Sbarro. Retrieved 2011-04-11.
  6. ↑ "Locations". Sbarro. Retrieved 2011-04-11.
  7. ↑ Kary, Tiffany (2011-04-04). "Sbarro, Mall Restaurant Chain, Seeks Bankruptcy Protection". Bloomberg. Retrieved 2011-04-11.
  8. ↑ 8.0 8.1 Karp, Gregory (2011-04-10). "Pizza restaurants feeling bite from consumer options". Los Angeles Times.
  9. ↑ Stych, Ed (18 Nov 2011), "Sbarro pizza gets court approval to exit bankruptcy", Minneapolis/St. Paul Business Journal, retrieved 21 Dec 2011
  10. ↑ Sbarro - News
  11. ↑ Franchise News | Latest Franchise News | Looking For Franchise Business - Franchise India
  12. ↑ Restaurant Review: Panki, Sbarro - Hindustan Times
  13. ↑ MarketWatch.com
  14. ↑ Lauren Coleman-Lockner, "Sbarro Closing 155 North American Locations in Comeback Bid", Bloomberg News, February 19, 2014.
  15. ↑ "Sbarro Files for Chapter 11 Bankruptcy"
  16. ↑ Sbarro says it exited bankruptcy protection.
  17. ↑ "Mama". Sbarro. Retrieved 2011-04-11.
  18. ↑ "Carmela's of Brooklyn". Sbarro. Retrieved 2011-04-11.

External links

Wikimedia Commons has media related to Sbarro.