drum118
Superstar
[h=1]Bankruptcy close for Quiznos after Subway smackdown[/h] Feb 28 2014, 07:50 ET
- Quiznos is moving closer to filing for bankruptcy, according to the WSJ.
- Many Quiznos franchisees are reported monthly losses and are looking for an exit.
- A Chapter 11 filing would give the restaurant chain the ability to rework some of its more restrictive leases and contracts.
- The Quiznos quandary: The rise of Subway has severely thwarted the growth track of Quiznos, while emerging chains such as Potbelly (PBPB) and Jimmy John's have also set it back. Analysts see even a post-bankruptcy turnaround as difficult with the brand set back.