Sbarro Gets OK To Assume Retail Leases, Saving $4M

Law360, New York (October 31, 2011, 5:06 PM EDT) -- A New York federal bankruptcy judge on Monday allowed Sbarro Inc. to take on nearly all of the more than 400 unexpired leases that it sought to keep, putting the bankrupt restaurant chain on a path to save itself about $4 million in annual rent after striking deals with some landlords.

U.S. Bankruptcy Judge Shelley C. Chapman approved the motion by Sbarro. The company can now assume those leases, 290 of which are being taken on as they are and 146 of which were modified in...
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