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Sbarro in Chap 11

gfweb

By gfweb
in Ready to Eat

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heidih

heidih

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Posted

I think Chapter 11 (versus 7) means a restructuring of debt- they are not going away, they are just going to screw some creditors less than if they went under ;)

Andrew Fenton

Andrew Fenton

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Posted

Chapter 11 means they likely will close some locations. But it's unlikely that those greasy airport pizzas will be replaced by anything wonderful... we are talking about airport food, after all!

Moopheus

Moopheus

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Posted

Though this sort of restructuring usually involves some store closings. So not all of America's malls and highway rest stops will be deprived of their cheap pizza, only some of them.

"I think it's a matter of principle that one should always try to avoid eating one's friends."--Doctor Dolittle

blog: The Institute for Impure Science

kalypso

kalypso

Posted
Posted (edited)

I wonder if there will be a culinary restructuring that would accompany the financial and/or organizational restructuring.

Depends upon whether the ownership remains the same in bankrupcy, or what the bankrupy courts order them to do. They could be purchased by venture capitalists or some sort of investment group. In that case they could do a lot of internal restructuring. The bankrupcy judge(s) can also specify what changes need to be made. They won't be allowed to come out of Chapter 11 until they've satisfied the courts and show that they have a viable plan in place for their operations. Bankrupcy more or less shows that the current model is flawed. I would think they're going to have to make quite a few changes in order to exit chapter 11.

Thursday at work I got an e-mail from Sbarros proclaiming how wonderful they were and why I needed to consider a franchise or licensing arrangment with them. Yesterday they announced they were headed to bankrupcy. Passing on the franchise agreement

Edited by kalypso (log)

Kalypso

San Diego, CA

http://thediningdiva.typepad.com

http://www.astrofood.net

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