Quiznos Emerges from Chapter 11 Bankruptcy
DENVER (AP) — Quiznos said Tuesday that it has emerged from bankruptcy after restructuring its finances.
The toasted sandwich chain filed for Chapter 11 bankruptcy protection in March and reduced its debt by more than $400 million.
CEO Stuart Mathis said it plans to increase sales by revitalizing the brand and reinforcing itself as a place for a "fresh, high-quality and great-tasting alternative to traditional fast food offerings."
The Denver company owns and operates only seven of the nearly 2,100 Quiznos restaurants around the country. The rest are owned and operated by franchisees and weren't part of the bankruptcy proceedings.
Quiznos provides franchise owners with training, store designs and marketing support.
Quiznos sells warm sandwiches, salads and wraps. It added pasta dishes, such as lobster macaroni and cheese and chicken pesto, to its menu earlier this year.