Published on: Feb 28, 2014 @ 7:35
DETROIT, MI – Quiznos is preparing to file for bankruptcy. The sandwich chains debt load is at $570 million. Quiznos has been negotiating with creditors for weeks on a restructuring plan.
Thousands of Quiznos locations have shut down in recent years. Competition from Subway and others has been brutal. However, competition is not the only major factor is Quiznos business problems. Franchisees say they’re struggling to stay in business. Quiznos name recognition is lacking and many franchisees struggle to make a profit.
Quiznos’s world-wide store count now stands at about 2,100. Subway has 41,000.