Sbarro said Monday that it is filing for Chapter 11 reorganization, the struggling pizza chain’s second trip through bankruptcy court in less than three years. The filing comes after the company shuttered 155 of its U.S. locations last month. Sbarro had cited declining traffic in the mall food courts where it does much of its business for the closures. The company did not immediately provide details on whether any marketing or in-store changes were planned to help update its image and boost sales. It says it still has more than 800 locations worldwide. The only remaining Nebraska location is at Westroads Mall.
Too bad the name Bananarama is already taken
Yes, they have more bananas. Fruit supply companies Chiquita of the United States and Fyffes of Ireland said Monday they had agreed to merge to create the world's biggest banana supplier. The all-shares agreement means the two companies will become ChiquitaFyffes PLC, be traded on the New York Stock Exchange and be headquartered in Dublin, a more tax-efficient corporate base. The two companies said the merger would create a banana behemoth that ships more than 160 million crates worldwide, about a quarter more than either of their main rivals, Dole and Del Monte.
McDonald's suffers another sales decline
McDonald's saw a key sales figure drop in the United States again last month as the world's biggest hamburger chain struggles to beat back competition and adapt to changing eating habits. The company, based in Oak Brook, Ill., cited bad winter weather for a 1.4 percent decline at established U.S. locations. But it also conceded that “challenging industry dynamics” played a role. Globally, the company said sales declined 0.3 percent at locations open at least 13 months. It warned that its muted performance so far this year could hurt first-quarter profit margins.