Home

Quiznos files for Chapter 11.Toasted sandwich chain Quiznos Corp. filed for pre-packaged bankruptcy last Friday due to rising debt.

The company has 2,100 restaurants (I’ve been there, and use the term “restaurant” loosely”) and all but 7 are owned by franchisees. They will not be affected by the bankruptcy, apparently.

The more you know: Quiznos was founded in 1981 and has locations in 34 countries! The company already restructured as recently as 2012, giving majority ownership of the company to Marc Lasry’s Avenue Capital Group LLC.
Hungry yet?

The company listed a debt load of over $500 million and requested a $15 million loan to keep the lights on while they restructure operations.

I hope they figure things out because I must admit they hit a home run with the Prime Rib Steak and Peppercorn sandwich. No, they are not a sponsor, that sandwich is just delicious.

@jeffpenner

Did you miss last week’s “CaNews Podcast”? Listen here, or subscribe on iTunes or Stitcher!

canews-donation

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s