Pizza chain Sbarro files for bankruptcy protection
By Aaron Smith, staff writerNEW YORK (CNNMoney) -- Sbarro Inc., a pizza and pasta fast-food chain popular in malls and airports, said Monday that it has filed for Chapter 11 bankruptcy protection.
The company also said it is seeking court approval for an agreement with lenders for $35 million in financing to help it emerge from bankruptcy. The financing is part of a plan to eliminate $200 million worth of debt, paring its debt to about $175 million.
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