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PizzaRev to expand in St. Louis and Austin
Los Angeles — A Buffalo Wild Wings Franchisee has signed an agreement to open fast-casual PizzaRev restaurants throughout the St. Louis, Mo., and Austin, Texas, markets.
The PizzaPeel franchise group plans to open four PizzaRevs in Austin and three in St. Louis. The agreement also includes rights to develop both regions further.
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Report: Sbarro files for bankruptcy
Melville, N.Y. – Sbarro LLC has reportedly filed for Chapter 11 bankruptcy protection for the second time since 2011. According to Reuters, Sbarro wants to reduce its debt by 80% via a pre-packaged reorganization that would allow it to exit bankruptcy before May 7, 2014.
Most of Sbarro’s creditors reportedly support the plan, which it said is necessitated by declining mall traffic and an unsustainable balance sheet. The plan requires court approval and Sbarro will reportedly also seek better offers from potential buyers.