Mastroianni Brothers Bakery, founded by eight Italian immigrants in 1923, has baked its last loaves of bread and is shutting down after negotiations with a potential buyer fell through.
The bakery's CEO, Warren Zeiser, said Tuesday that five years of declining sales forced the 93-year-old company to end its run, effective immediately.
Zeiser, who was brought in a year ago to save the business, said there was simply not enough time to turn the bakery around, despite an aggressive revitalization effort. The company's yearly revenue steadily declined over the last five years, down to $5 million after peaking at $10 million several years ago.
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