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Quiznos Preparing to File for Bankruptcy Protection
wsj ^

Posted on 02/27/2014 3:08:54 PM PST by Perdogg

Sandwich chain Quiznos is preparing to file for bankruptcy protection within weeks as it contends with declining sales and a lofty debt load, people familiar with the matter said.

The company, which has about $570 million in debt, has been negotiating with creditors for weeks on a restructuring plan that would streamline its trip through bankruptcy court, these people said. A final deal on a so-called prepackaged restructuring plan hasn't yet been reached, they said.

(Excerpt) Read more at online.wsj.com ...


TOPICS: Business/Economy
KEYWORDS: bankrupcy; bankruptcy; bhoeconomy; economy; fastfood; quiznos
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To: Perdogg

My local Quiznos went under a couple years ago and was replaced by a Jersey Mike’s, which is the best sub chain I’ve seen.

http://www.jerseymikes.com/


21 posted on 02/27/2014 3:26:14 PM PST by PLMerite
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To: Perdogg

I only ate their once or twice. Pretty good toasted subs, but it just was never a “destination stop” for me.

To be honest...nothing out there today tops my childhood favorite - the subs at K-Mart. Back in the day, Kmart used to sell subs at their little food court thing. They were nothing fancy - cold cuts with lettuce and tomato on a plain white sub bun - but we all loved them. Mom used to buy them for us kids once a month*** as a treat, and we thought we were something pretty special when we got them. Good times.

***(my parents did not see fast food as a substitute for cooking dinner on a regular basis, not that we could have afforded it back then as big as my family is).


22 posted on 02/27/2014 3:27:20 PM PST by DemforBush (A Repo Man is *always* intense.)
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To: Perdogg

I only eat there once then I try go back six month later the restaurant close down in my area


23 posted on 02/27/2014 3:27:29 PM PST by SevenofNine (We are Freepers, all your media bases belong to us ,resistance is futile)
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To: Perdogg

After going to a low carb diet years ago and giving up fast food and basically anything that comes in a box, I can’t say that losing this place or Subway would be a big loss for me. Just more cheap carbs, salt and corn syrup.


24 posted on 02/27/2014 3:28:47 PM PST by Orangedog (An optimist is someone who tells you to 'cheer up' when things are going his way)
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To: Perdogg

It was good, just not 8.00 good.


25 posted on 02/27/2014 3:29:13 PM PST by demshateGod (The fool hath said in his heart, There is no God.)
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To: Perdogg

Greater than half a billion in debt load for sub chain?

Sounds like they hired a CFO from the US govt.


26 posted on 02/27/2014 3:30:38 PM PST by nascarnation (I'm hiring Jack Palladino to investigate Baraq's golf scores.)
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To: Perdogg

Mm mm mm mm mm...toasted.


27 posted on 02/27/2014 3:30:48 PM PST by RichInOC (No! BAD Rich! (What'd I say?)...R.I.P.)
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To: 1rudeboy

Yeah...I think that’s what killed them...all the subs cost about 570 million dollars to buy(sarcasm on.) Seriously, They were really expensive(average 7- 9 dollars) at a time where subway had 5 dollar deals for any sub in the store!


28 posted on 02/27/2014 3:32:00 PM PST by mdmathis6 (American Christians can help America best by remembering that we are Heaven's citizens first!)
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To: Perdogg

Much better product than Subway’s


29 posted on 02/27/2014 3:34:03 PM PST by muir_redwoods (When I first read it, " Atlas Shrugged" was fiction)
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To: muir_redwoods

I prefer Quizno’s to Subway, and don’t mind the extra price, but my Quizno’s is across the highway and so I rarely go there. I go to the Subway on my side of the highway. Location . . . location . . . location.


30 posted on 02/27/2014 3:39:17 PM PST by Steve_Seattle
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To: Perdogg

Decent food. Overpriced though.
At the one I used to go to the manager would not give me a pack of crackers with my soup if the soup already came with a polenta roll. Meanwhile, at the Schlotzky’s down the street you could grab as many crackers as you wanted for free.
Also, has anyone noticed the proliferation of sub chains in recent years? There’s Jimmy Johns, Charley’s, Murphy’s, Potbelly, Which Wich, Delaware Subs, Firehouse, Lenny’s, just to name a few. But if you’ve got a Jersey Mike’s near you, you don’t need any of the others.
So, no surprise Quizno’s is belly up.


31 posted on 02/27/2014 3:44:00 PM PST by rhinohunter (Freepers aren't booing -- they're shouting "Cruuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuz")
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To: Perdogg

The last time I went to one was in a west Madison mall. It was 3 o’clock. The place was empty. I asked if they had wifi. He said “no”, and I suggested they get. He said they weren’t a cafe. Indeed not. No returns from me.


32 posted on 02/27/2014 3:44:06 PM PST by Dr. Sivana ("I'm a Contra" -- President Ronald Reagan)
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To: Perdogg

The need to change the name.

Subconsciously, people want to avoid a ‘quiz’.


33 posted on 02/27/2014 3:51:45 PM PST by Hammerhead
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To: Perdogg

Last time I ate at a Quizno’s it was terrible. Usually decent for a decent price, but not that time. The place where we got bad food closed soon afterward, so probably not a chain-wide issue - but we have chosen other options for sandwiches since then (Subway, Lenny’s, Firehouse).


34 posted on 02/27/2014 3:53:55 PM PST by Some Fat Guy in L.A. (Still bitterly clinging to rational thought despite it's unfashionability)
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To: Perdogg

Mmmm...mmmm...mmm... bankrupt! A few years ago, Quiznos had a contest to win franchises to customers. I hope Quiznos will be back stronger.


35 posted on 02/27/2014 3:54:21 PM PST by ExCTCitizen (2014: The Year of DEAD RINOS)
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To: DemforBush

“To be honest...nothing out there today tops my childhood favorite - the subs at K-Mart. Back in the day, Kmart used to sell subs at their little food court thing. They were nothing fancy - cold cuts with lettuce and tomato on a plain white sub bun - but we all loved them.”
__________________________________

I SO remember those! They were great, and the ham sandwiches too! Simple, but super good. Like your folks, fast food was a rarity in my childhood, but when we went to K-Mart, we always picked those sandwiches up. Ah, memories of growing up in the 1970s.


36 posted on 02/27/2014 3:55:49 PM PST by AnAmericanAbroad (It's all bread and circuses for the future prey of the Morlocks.)
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To: ExCTCitizen
Quiznos had a contest to win franchises to customers.

I don't exactly understand this comment, but they have a debt load > $270,000 per location. Not sure I'd want one even if it came free.

37 posted on 02/27/2014 3:58:29 PM PST by nascarnation (I'm hiring Jack Palladino to investigate Baraq's golf scores.)
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To: Perdogg
Quiznos downfall began with these commericals

http://www.youtube.com/watch?v=cG042nkReBA

Those rat things grossed me out that I could never eat there.

38 posted on 02/27/2014 4:04:41 PM PST by qam1 (There's been a huge party. All plates and the bottles are empty, all that's left is the bill to pay)
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To: kpbruinfan

“Spuckie”

That pins you down to one of about four or five towns around Boston.

Short for Spucadella, IIRC. The guy I first heard use it, thirty five years ago, we used to go bowling lunch time at Sammy White’s.

It was just when I recently read Ted William’s biography that I found out Sammy White had played for the Red Sox.


39 posted on 02/27/2014 4:05:42 PM PST by Flash Bazbeaux
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To: Perdogg

Not bad for a chain but I’ll take an Amato’s “Real Italian” any day. It’s a Maine thing.


40 posted on 02/27/2014 4:06:40 PM PST by NewHampshireDuo
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