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 ...
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.
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).
I only eat there once then I try go back six month later the restaurant close down in my area
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.
It was good, just not 8.00 good.
Greater than half a billion in debt load for sub chain?
Sounds like they hired a CFO from the US govt.
Mm mm mm mm mm...toasted.
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!
Much better product than Subway’s
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.
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.
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.
The need to change the name.
Subconsciously, people want to avoid a ‘quiz’.
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).
Mmmm...mmmm...mmm... bankrupt! A few years ago, Quiznos had a contest to win franchises to customers. I hope Quiznos will be back stronger.
“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.”
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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.
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.
http://www.youtube.com/watch?v=cG042nkReBA
Those rat things grossed me out that I could never eat there.
“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.
Not bad for a chain but I’ll take an Amato’s “Real Italian” any day. It’s a Maine thing.
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