There’s been a recent wave of companies with a huge presence in New Jersey’s shopping malls announcing cutbacks, store closings and bankruptcies.
Sbarro — how do you have a food court without it? — is reportedly considering bankruptcy
. This comes weeks after the company announced it will close 155 (of roughly 400) stores in North America.
The business model of overcharging for slices of pizzas under a heat lamp apparently no longer works.
Sbarro joins a host of other mall favorites that are struggling.
Secaucus-based Children’s Place announced it will close 30 stores this year — after closing 41 last year. Apparently all those great deals I get for my kids are only great deals for my family, not the company.
And Radio Shack, which had one of the best TV ads during the Super Bowl (“The 80s called: They want their stores back
“) announced last week it will close hundreds of locations, too. (Have to admit, haven’t been in one since the actual Mary Lou Retton was on every commercial on TV).
It’s not like the parking lots are being spared either as Staples announced it is closing hundreds of stores.
For those of us who grew up going to malls (Egg Harbor-based Spencer’s, Pac-Man and food courts could kill a day), this is tough news.
It makes us wonder: Just who will fill those traditional spots in shopping malls throughout New Jersey? After all, how many different frozen yogurt franchises can there be?