Pizza Chain, Sbarro, Files for Chapter 11 Bankruptcy
If you have ever been in an airport or mall, then you've most likely seen a Sbarro pizza kiosk. The Wall Street Journal has reported that the pizza chain is filing for Chapter 11 bankruptcy protection.
The New York based pizzeria cites a decline in mall traffic, less consumer spending, and rising costs of ingredients for its current financial woes.
According to Sbarro's Chapter 11 Petition, it has an asset-to-debt ratio of $471B to $486.6B, respectively.
Sbarro currently operates more than 1,000 restaurants in over 40 countries.
You Can Read More by Visiting Sbarro files for Chapter 11.
For more information on corporate bankruptcy, financial restructuring and commercial finance please contact an attorney at Wood, Atter & Wolf, P.A., in Jacksonville and Ponte Vedra Beach, Florida.
