Sbarro prepares to file for bankruptcy: report

NEW YORK Thu Mar 31, 2011 3:00pm EDT

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NEW YORK (Reuters) - Fast-food pizza chain Sbarro Inc may file for Chapter 11 bankruptcy as soon as next week, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

Sbarro SBARO.UL is in talks with a group of hedge funds holding its senior debt to provide about $35 million in so-called debtor-in-possession financing to help keep the chain operating in bankruptcy, the Journal said.

A Sbarro representative was not immediately available for comment.

(Reporting by Dena Aubin; editing by Carol Bishopric)

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