Sbarro Says Creditors Back Reorganization Plan

Law360, New York (November 15, 2011, 6:01 PM EST) -- With a confirmation hearing looming, bankrupt pizza chain Sbarro Inc. has submitted a reorganization plan that it says has the "full and unqualified support" of creditors, according to a memorandum filed Monday.

The company's memorandum filed in New York bankruptcy court outlines a plan to reduce the company's debt by nearly 70 percent, from about $400 million to about $130 million.

"The debtors stand poised to emerge from Chapter 11 with a plan that preserves the going concern value of the business and maximizes creditor recoveries,"...
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Case Title

Sbarro, Inc.


Case Number

1:11-bk-11527

Court

New York Southern

Nature of Suit

Date Filed

April 3, 2011

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UK Financial Services

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