Sbarro's is bankrupt

The Sbarro's Italian-style fast-food restaurant chain has filed for bankruptcy protection. The New York-based chain stays open for now, but it's still bad news for suppliers, landlords and future prospects.

Sbarro's has more than a dozen stores in the Philadelphia area, including Center City locations and outlets at the Moorestown, Willow Grove, Springfield and Christiana malls, among others. See the petition here courtesy of Wall St Journal.