WSJ: Sbarro Exits Bankruptcy; Swaps Debt for Control
The Wall Street Journal reported that the Sbarro pizza chain is officially out of bankruptcy after entering into a plan that allowed lenders to swap $148 million in debt for control of the reorganized business.
The Journal, citing court documents, said the company would get new owners under the plan, including distressed-debt investors Apollo Global Management, Babson Capital Management and Guggenheim Investment Management.
To read the entire WSJ article, click here.
Previously on abfjournal: Sbarro’s Second Bankruptcy Exit Receives Court Approval, May 21, 2014