Sbarro, Mall Restaurant Chain, Seeks Bankruptcy Protection
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Sbarro Inc., operator of more than 1,000 pizza restaurants worldwide, sought bankruptcy protection to eliminate about $200 million in debt after sales slowed and cheese costs rose.
The chain listed assets of $471 million and debt of $486.6 million in documents filed today in U.S. Bankruptcy Court in New York. Sbarro, based in Melville, New York, said it had as many as 10,000 creditors.