Popular shopping mall quick-eat Sbarro Inc. will file for Chapter 11 bankruptcy as soon as next week, sources close to the situation report. The company is hoping to “prearrange” its debt, in order to quickly move through the bankruptcy process. It was hit especially hard by the global recession, and by low consumer confidence in the brand. More than 150 stores have closed over the past two years. Sbarro is based out of Melville, NY and employs around 5,000 people. Stores began to close and employees lost their jobs during the heart of the recession. Since it began as a family-run supermarket in Brooklyn during the 1950s, the company has grown tremendously. They opened the first store in a shopping mall in 1967, and now operate more than 1,000 stores in 40 different countries.
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