According to Bloomberg, Sbarro filed for bankruptcy this week, listing assets of $471 million and debt of just under $487 million. The article mentions that the restaurant chain, which has been in financial trouble for a few years now, is planning to restructure its debt with the hopes of coming out of Chapter 11 at some point.
The Sbarro chain, which is based on Melville, NY (on Long Island), first started out in 1956 and today runs more than 1,000 restaurants in the United States and other countries, including three outlets at Logan Airport in East Boston, another at the Longwood Galleria on Longwood Avenue, and a couple of others in Braintree and Natick. Sbarro focuses mainly on pizza, but also offers pasta dishes and other Italian items.
For more information on Sbarro filing for bankruptcy, please go to the Bloomberg link below.
Sbarro, Mall Restaurant Chain, Seeks Bankruptcy Protection
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