Sbarro says it exited bankruptcy protection
According to court filings, a judge approved the company's reorganization plan on May 19, and that plan took effect Monday. Sbarro says it will move its company headquarters to Columbus, Ohio, to reduce expenses and be closer to its new Pizza Cucinova business, which lets people build their own pizzas. The first Cucinova restaurant opened in October.
The company says about 40 jobs at its old headquarters in Melville, New York, will be eliminated, but its other 2,700 employees nationwide won't be affected.
The company filed for Chapter 11 bankruptcy reorganization in March, one month after it closed 155 U.S. locations. It also went through bankruptcy reorganization in 2011.
Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.