Deals
Sbarro Files Second Bankruptcy as Mall Traffic Dwindles
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Sbarro LLC, the 800-restaurant U.S. pizza chain, filed for bankruptcy protection for the second time in three years as customer traffic slowed in the shopping-mall food courts where many of its stores do business.
The company listed assets of $175.4 million and liabilities of $165.2 million in a Chapter 11 petition filed today in U.S. Bankruptcy Court in Manhattan. Melville, New York-based Sbarro said in a statement that it will use court protection to quickly reorganize under a plan already supported by holders of most of its debt, while also shopping around for better offers.