Back in April, Sbarro announced it was preparing to file for Chapter 11 bankruptcy protection because no one is eating at the mall food courts of America these days. But now come reports that the pizza chain might have found a buyer for the business.
Sbarro… is talking to an entity that may offer to buy the entire chain in a deal worth more than the original proposal to give itself to creditors in exchange for cutting its debt, said the person, who declined to be identified because details about the talks are private. That deal included a $30 million rights offering.
“We believe it is in the best interest of all stakeholders for the company to dedicate its resources to exploring all available value maximizing alternatives,” said the company’s interim CEO.