Sbarro files for bankruptcy. I suppose 3D printing technology made it too easy to reproduce pizzas of similar quality in your own home.
The New York-based company, which is set to close 155 of its 400 locations nationwide, says “an unprecedented decline” in traffic at America’s malls is hurting its business. Emptying malls have also put the squeeze on Hot Dog on a Stick, which filed for bankruptcy just last month, and retailers like Abercrombie & Fitch, Wet Seal, and RadioShack.
According to real estate analytics firm Green Street Advisors, about 15 percent of U.S. malls will fail or be converted into non-retail space within the next 10 years. But for some, these companies are something other than victims of circumstance.
“Sbarro has been stuck with an outdated business model,” said Michael Whiteman, a restaurant consultant and president of Baum & Whiteman LLC in Brooklyn, New York. “Its biggest shortcoming is that it sells food that has been sitting out for a while.”
Wait? Hot Dog on a Stick is gone? And why is there such a thing as a Hot Dog on a Stick? Are we really that busy?