March 5 Pizza chain Sbarro LLC could file for Chapter 11 protection by as early as Sunday, the Wall Street Journal reported, citing people familiar with the matter.
Melville, New York-based Sbarro is soliciting votes for a so-called prepackaged restructuring plan due by the end of this week, the newspaper said. (link.reuters.com/nuj47v)
The restaurant chain said last month it would close down 155 outlets of the 400 restaurants it owns in North America to cut costs. It previously sought bankruptcy protection in 2011.
Sbarro could not be immediately reached for comment outside of U.S. business hours. (Reporting by Mridhula Raghavan and Varun Aggarwal in Bangalore; Editing by Gopakumar Warrier)