Sbarro seeks bankruptcy protection
Sbarro Inc., operator of more than 1,000 pizza restaurants worldwide, sought Chapter 11 bankruptcy protection Monday after sales slowed and cheese costs rose, and said it has a plan to eliminate about $200 million in debt.
Debt-laden German aluminium firm Almatis BV filed for Chapter 11 bankruptcy protection in a US bankruptcy court, two days after its owner Dubai International Capital urged the lenders not to rush into bankruptcy.