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Sbarro Wins $35M Infusion In Ch. 11

Law360 (April 5, 2011, 8:42 PM EDT) -- A bankruptcy judge on Tuesday approved a $35 million cash influx for Melville, N.Y.-based pizza chain Sbarro Inc., which filed a prepackaged Chapter 11 petition Monday.

In an interim order filed in the U.S. Bankruptcy Court for the Southern District of New York, Judge Shelley C. Chapman authorized Sbarro's debtor-in-possession financing package provided by first-lien lender Cantor Fitzgerald Securities.

Of the $35 million, $16.5 million will be made available immediately, with another $3.5 million becoming available within a day of the entry of the final order,...
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