(zyphbear)
The truth is out, and the sandwich is toasted: Quiznos announced today that it 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?
Franchisees blame the company for charging too much for supplies that they could buy for less elsewhere. In their bankruptcy filing, meanwhile, Quiznos turned around and blamed some franchisees, saying that inexperienced restaurant operators that opened new outposts the company’s recent expansion have hurt the brand due to their lack of experience in the quick-serve biz.
Quiznos has about 2,100 restaurants left, most of which are franchises. Owners complain that the cost of running a Quizno’s is too high, making it difficult to compete with other fast-food and quick-serve restaurants.
Quiznos Files Pre-Packaged Chapter 11 Plan After Debt Deal [Wall Street Journal]
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