Sbarro Agreement Terminated

Sbarro announced that it has consensually terminated its pre-petition plan support agreement and equity commitment agreement with Ares and MidOcean in order to explore other strategic alternatives, including discussions with a qualified bidder who has expressed preliminary interest in acquiring the company. In addition, Sbarro continues to negotiate with its pre-petition creditors to pursue a standalone plan of reorganization. Sbarro noted key stakeholders of the company, including Ares, MidOcean, and the first lien steering committee all support the company's decision to pursue multiple avenues to maximize value and not to file a plan of reorganization or seek approval of the equity commitment agreement at this juncture.