Quiznos files for bankruptcy
March 15 , 2014
Quiznos has filed for a bankruptcy protection in order to reduce its debt by over $400M. Reports suggest that the chain filed it voluntarily so it could reorganize and work on a restructuring plan.
Quiznos also mentioned that customers won't notice the move and that its creditors have approved of the restructuring plan.
The company operates only seven out of its 2,100 restaurants and will continue to do so. The recent developments have been shocking considering that the chain used to pose a threat to Subway.