Sbarro, a pizza chain that originated as an Italian grocery in 1956, experienced a decline in popularity and filed for Chapter 11 bankruptcy in 2011, impacted by the Great Recession and changing shopping habits. In an effort to revitalize the brand, new CEO Jim Greco led a rebranding initiative focusing on fast-casual dining with an updated pizza recipe and customizable pasta options. Despite these efforts, Sbarro filed for bankruptcy again just three years later, indicating ongoing difficulties in adapting to modern consumer preferences.
Sbarro's initial bankruptcy in 2011 followed the economic upheaval of the Great Recession, highlighting significant shifts in mall culture and consumer spending habits.
Under CEO Jim Greco, Sbarro attempted to transition into a fast-casual dining option, implementing an improved pizza recipe and customizable pasta stations to attract customers.
Despite restructuring efforts after exiting bankruptcy in 2011, Sbarro faced a second bankruptcy filing just three years later, demonstrating challenges in sustaining a business model in a changing market.
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