The Wall Street Journal reported that Sbarro is officially out of bankruptcy after entered into a plan that allowed lenders to swap $148 million in debt for control of the reorganized business.
Bloomberg reported that pizza chain Sbarro won court approval to exit its second bankruptcy in three years, after landlord objections were resolved.
The Wall Street Journal reported Sbarro filed for bankruptcy protection after gaining support for a debt-for-equity swap intended to speed the company through its second recent trip through Chapter 11.
The Wall Street Journal reported that Sbarro, which emerged from bankruptcy protection about 14 months ago, retained the services of restructuring lawyers at Kirkland & Ellis and bankers at Moelis & Co.