Quiznos Bankruptcy And Restructuring Plan

Quiznos Bankruptcy. Quiznos has reached an agreement with its senior lenders on a “pre-packaged” restructuring plan that will reduce debt by more than $400 million. The plan is also intended to increase the Company’s flexibility as it executes operational enhancements designed to strengthen performance, revitalize the Quiznos brand and reinforce its promise as a fresh, high-quality and great-tasting alternative to traditional fast food offerings.

All but seven of Quiznos’ nearly 2,100 restaurants are independently owned and operated by franchisees in the U.S. and 30 other countries around the world. As separate businesses, these restaurants are not a part of the Chapter 11 proceedings and are open and operating as usual. Quiznos customers can expect their favorite high-quality menu offerings.

Quiznos expects to continue operating in the ordinary course of business throughout the restructuring process and will continue working with its franchisees in the U.S. and internationally to strengthen the brand, build momentum and improve growth and profitability.