Sbarro Files 2nd Ch. 11 Petition Since 2011

Law360, New York (March 10, 2014, 1:01 PM EDT) -- Fast-food pizza chain Sbarro Express LLC filed for bankruptcy protection in New York federal court on Monday, marking its second petition for Chapter 11 protection in less than three years. 

In its filing, the Melville, N.Y.-based company and 30 affiliates said they owed between $100 million and $500 million in debts against less than $50,000 in assets.

In a statement, the company said it would use the protection to implement a plan to close and reorganize many of its underperforming locations as part of a plan...
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