Quiznos announced today that, as we reported a few weeks ago, the company will be filing for Chapter 11 bankruptcy protection, a move that will let the chain cut its debt load by about 2/3. That’s great news for the corporate headquarters, but will dissatisfied franchisees be happy with the plan? [More]
“Torpedoing.” “Toasted.” The food that Quiznos is having trouble selling is full of metaphors for how its business is going. Crunched by the recession, its own policies towards franchise owners, competitors adding toasters, and an “everyday value” strategy that ran counter to its position as a purveyor of premium sandwiches, Quiznos is on the edge of violating its loan terms and could go into default.