Sbarro to Drop Chapter 11 Reorganization Plan; Other Options on the Table

A month after reporting that a chain of pizza restaurants filed for Chapter 11 bankruptcy, it appears that the chain may be dropping those plans, instead looking at other options.

According to MarketWatch, Sbarro has decided to look into other avenues beside reorganization, including possibly selling the company. The article mentions that an unnamed bidder appears to be interested in buying the Melville, NY-based company, and stakeholders in the chain seem to be supportive of Sbarro looking at alternatives to the reorganization plan for now.

Sbarro which filed for bankruptcy in April--and had been in financial trouble for a few years now--started out in 1956 and today has more than 1,000 restaurants worldwide, including three at Logan Airport in East Boston, one on Longwood Avenue over by the hospitals, and locations in Braintree and Natick.