Sbarro Files for Bankruptcy

Pizza chain Sbarro has filed for bankruptcy.
Pizza chain Sbarro has filed for bankruptcy.

It has been less than three weeks since it was forced to close more than 40 percent of its locations in the US.
The bankruptcy filing was part of a reorganization plan with creditors that hold 98 percent of their debt, according to the company

In an effort to move forward, they expect the bankruptcy to help shed an estimated $140 million of debt.

This is the second bankruptcy filing in less than three years by the pizza chain.
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