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Quiznos files for bankruptcy (tough week for fast food chains)
CNN Money ^ | 03/15/2014 | By Katie Lobosco

Posted on 03/15/2014 12:02:39 PM PDT by SeekAndFind

Quiznos has filed for bankruptcy protection, five days after the Sbarro pizza chain did the same.

Executives at the restaurant chain, known for its toasted sandwiches, agreed to a restructuring plan that will reduce its debt by more than $400 million, the company said in a statement Friday.

All but seven of Quizno's 2,100 restaurants in the United States and 30 other countries are independently owned franchises, and will remain open and operating as usual. Quiznos once had more than 5,000 stores and could have threatened rival Subway's hold on the sub market. But now, Subway has nearly 20 times the number of stores, with about 40,000 locations in 100 countries.

(Excerpt) Read more at money.cnn.com ...


TOPICS: Business/Economy; Society
KEYWORDS: bankruptcy; bhoeconomy; fastfood; franchise; quiznos; sbarro

1 posted on 03/15/2014 12:02:39 PM PDT by SeekAndFind
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To: SeekAndFind

They make shitty sandwiches (and small). Try Jersey Mikes - the real deal. I’m sure they’re doing great.


2 posted on 03/15/2014 12:07:24 PM PDT by FlJoePa ("Success without honor is an unseasoned dish; it will satisfy your hunger, but it won't taste good")
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To: SeekAndFind

Importantly they are going Chapter 11, which is reorganization, not Chapter 7, which is liquidation.

From here there are two directions they could go. The first is that they can legitimately restructure their debt and continue operations. The other, however, is that their executives loot the company, and then when it is stripped to the bones, go Chapter 7, which rips off all their creditors and shareholders.

Given that Quiznos has been in a downward spiral for years, with other chains adopting their good idea of toasted sandwiches, and selling them at lower prices; and the state of the industry as a whole; it is likely that they are going to take the latter course.

While they might screw their franchisees, they might just cut them loose so they can join other franchise operations, or start their own business. They’ll probably screw them as well.


3 posted on 03/15/2014 12:09:35 PM PDT by yefragetuwrabrumuy (WoT News: Rantburg.com)
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To: SeekAndFind
http://www.firehousesubs.com/
4 posted on 03/15/2014 12:12:17 PM PDT by South40 (Liberalism is a Disease)
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To: SeekAndFind

I’ve always liked Quiznos and their food. Clean stores, etc.

BUT I never, never, ever knew that it was something you didn’t buy as a frozen sandwich in a grocery store. Because they never, ever include an address in their marketing campaigns.

They were generic ads with no ties to local franchisees, I guess.

Not the best business strategy in the world. Two of the ones that were near me are long gone. I discovered them by accident one day because they were next door to a place I was going for a haircut.


5 posted on 03/15/2014 12:17:12 PM PDT by F15Eagle (1Jn4:15;5:4-5,11-13;Mt27:50-54;Mk15:33-34;Jn3:17-18,6:69,11:25,14:6,20:31;Ro10:8-11;1Tm2:5-6;Ti3:4-7)
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To: SeekAndFind
McDonald's just posted a nearly 2% reduction in revenue for the past quarter. That's nine quarters in a row.

People don't have the money to purchase fast food.

6 posted on 03/15/2014 12:23:44 PM PDT by Zuben Elgenubi (NOPe to GOPe)
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To: SeekAndFind


7 posted on 03/15/2014 12:24:02 PM PDT by Chode (Stand UP and Be Counted, or line up and be numbered - *DTOM* -vvv- NO Pity for the LAZY - 86-44)
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To: SeekAndFind

Haven’t been in Quiznos for five years. THey kept me nourished on a cross-country drive back then, the only fast-food place I could get VEGGIES. They had a nice zucchini dish I ate from coast to coast. It’s not on their menu now. Perhaps they have financial trouble because they changed the menu to be more like everyone else.


8 posted on 03/15/2014 12:28:39 PM PDT by Veto! (Opinions freely dispensed as advice)
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To: SeekAndFind

Every time I think of Quiznos, I see that rat-like creature they shared with us in that memorable TV spot.

Yummmy.


9 posted on 03/15/2014 12:29:22 PM PDT by Dick Bachert (Ignorance is NOT BLISS. It is the ROAD TO SERFDOM! We're on a ROAD TRIP!!)
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To: SeekAndFind
From what I've read, Quiznos screws-over their franchisees.
10 posted on 03/15/2014 12:31:32 PM PDT by smokingfrog ( sleep with one eye open (<o> ---)
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To: Zuben Elgenubi

~~~People don’t have the money to purchase fast food.~~~

I hear ya.

But ‘the economy is improving a rapid rate’.

Or so sayeth Propaganda Central.


11 posted on 03/15/2014 12:33:50 PM PDT by F15Eagle (1Jn4:15;5:4-5,11-13;Mt27:50-54;Mk15:33-34;Jn3:17-18,6:69,11:25,14:6,20:31;Ro10:8-11;1Tm2:5-6;Ti3:4-7)
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To: Zuben Elgenubi
people don't have the money to purchase fast food

Around here, the Quizno's closed and the McDonald's parking lot is never over crowded. But at lunch, the line goes out the door at Chipolte, Panera, and a small chain sub shop DiBella's. What do the three have in common? Serious initiatives to provide what I call "pure food" and other healthy choices. Lunch costs about $8, but with an amount of food so large it can serve two, they're cheaper than Subway or McDonald's.

12 posted on 03/15/2014 12:38:40 PM PDT by grania
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To: FlJoePa

Tell me about Jersey Mikes - I go by those stores every day.


13 posted on 03/15/2014 12:53:45 PM PDT by miss marmelstein (Richard Lives Yet!)
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To: Zuben Elgenubi

Bring back salt and beef tallow and McDonald’s will be roaring.


14 posted on 03/15/2014 12:54:59 PM PDT by miss marmelstein (Richard Lives Yet!)
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To: Veto!
Perhaps they have financial trouble because they changed the menu to be more like everyone else.

Perhaps they have financial trouble because you stopped eating their nice zucchini dish?

15 posted on 03/15/2014 1:12:07 PM PDT by varon (Para bellum)
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To: SeekAndFind

After that horrid little creature in their commercials, I’m surprised it took them this long to close the doors.


16 posted on 03/15/2014 1:19:38 PM PDT by bgill
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To: SeekAndFind

Didn’t Quizno’s spend an incredible amount of money promoting the sale of franchises? Maybe without market research or strong enough quality assurance. Bet the management who sold the franchises isn’t in any bankruptcy trouble!


17 posted on 03/15/2014 1:20:46 PM PDT by jjotto ("Ya could look it up!")
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To: Zuben Elgenubi
People don't have the money to purchase fast food.

Kind of hard to envision in a country that has almost 10 million Millionaires.

18 posted on 03/15/2014 1:24:16 PM PDT by varon (Para bellum)
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To: Zuben Elgenubi

Maybe their food sucks.


19 posted on 03/15/2014 1:24:53 PM PDT by dfwgator
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To: miss marmelstein

Jersey Mike’s..,Think of one notch above Subway.
If there is a Firehouse Subs near you go there.
Jimmy Johns is good also.

I used to like Quiznos. Got turned off by their deceptive advertizing and inconsistent quality.
One store would be good, another lousy.


20 posted on 03/15/2014 1:30:04 PM PDT by Vinnie
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To: miss marmelstein

Jersey Mikes is good. Big subs w/ the meat sliced in front of your eyes. Order whatever you get “Mike’s way” w/ onions and oil/vinegar.

For me, Publix has the best subs because I can get Boars Head meat. Parking, and walking into a supermarket just doesn’t work sometimes - if it’s a busy Publix, you’ll wait a bit.

Also, up north - Wegmans has great subs.

I come from the sub capital of the world - central PA. Cellinis in Montoursville or even better Ed’s Market is where it begins and ends.


21 posted on 03/15/2014 1:35:46 PM PDT by FlJoePa ("Success without honor is an unseasoned dish; it will satisfy your hunger, but it won't taste good")
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To: SeekAndFind

Definitely prefer Quiznos to Subway. Better subs, better salads.

Of course, none of these chains can hold a candle to the old Mom and Pop sub shops back East that I could get as a kid.


22 posted on 03/15/2014 1:37:31 PM PDT by tahoeblue
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To: Vinnie

Jimmy Johns is good - love their gargantuan (for $9 though?).

Problem with them is the portion size. By FAR the smallest of the sub chains.


23 posted on 03/15/2014 1:38:06 PM PDT by FlJoePa ("Success without honor is an unseasoned dish; it will satisfy your hunger, but it won't taste good")
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To: FlJoePa

Here in Florida you can get the best subs at the Publix deli. Better meat (Boar’s Head) and more fixings just the way you want. A whole sandwich is good for 2 meals.


24 posted on 03/15/2014 1:38:59 PM PDT by Cannoneer ( "..raise a standard to which the wise and honest can repair.." GW)
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To: SeekAndFind
That Quizno's bankruptcy could explain the unfailingly surly treatment I get on my rare visits to their local franchise.

Or maybe that unfailingly surly treatment caused their bankruptcy. Chicken, meet egg.

25 posted on 03/15/2014 1:42:12 PM PDT by martin_fierro (< |:)~)
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To: Cannoneer

Agree - love my Publix. Thankful I live in an area where it isn’t overcrowded - even this time of year.


26 posted on 03/15/2014 1:44:02 PM PDT by FlJoePa ("Success without honor is an unseasoned dish; it will satisfy your hunger, but it won't taste good")
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To: varon
Perhaps they have financial trouble because you stopped eating their nice zucchini dish?

LOL….makes me feel really powerful.:)

27 posted on 03/15/2014 2:33:55 PM PDT by Veto! (Opinions freely dispensed as advice)
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To: Veto!

I’m living in a sheltered world. I have never heard of a majority of these establishments, RIP.


28 posted on 03/15/2014 3:02:56 PM PDT by BigIsleGal (Wake Me Up When the Stupid Wears Off)
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To: BigIsleGal

You’re missing out on NOTHING, BigIsleGal. I’d much rather go out to the yard and pick a pineapple.


29 posted on 03/15/2014 3:06:42 PM PDT by Veto! (Opinions freely dispensed as advice)
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To: Zuben Elgenubi

Went through a Wendy’s this last week while in the city late at night. Hadn’t been to one in several months. Used to get their Junior Bacon Cheeseburger for $.99 with lettuce, tomato, onions and light mayo at least once a week. It now begins at $1.29 and the one I stopped at charges extra for the cheese, lettuce, tomato and onions. By the time I added these things it was up to $2.19. Not a whole lot of money but to more than double in price is mind blowing. Told them no thanks and drove home and scrambled some eggs!


30 posted on 03/15/2014 3:20:28 PM PDT by Grams A (The Sun will rise in the East in the morning and God is still on his throne.)
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To: smokingfrog

From what I’ve read, Quiznos screws-over their franchisees.
***************************************
You may have noticed from the article that Quiznos only has 7 restaurants ,,, the rest are franchises and of 5000 franchisees only 2000 remain ... my neighbor had a Quiznos franchise ,,, the restaurant equipment they were forced to buy was very much substandard ,, I personally repaired their conveyor toaster twice... their support was terrible assuring that franchisees would fail. in one year (I think around 2005??) Quiznos almost doubled it’s number of outlets ... they took peoples money and left them to drown.


31 posted on 03/15/2014 6:36:36 PM PDT by Neidermeyer (I used to be disgusted , now I try to be amused.)
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To: smokingfrog
From what I've read, Quiznos screws-over their franchisees.

Used to eat their food once in a while, then the "Toasty" commercial came out and something about it seemed border-line homo-appeal, so I stopped.

Now that they are doing the bankruptcy thing, It makes me wonder what comes first; fiscal problems or the sudden change to try to attract homosexuals - seems like a lot of companies have both on the table - business problems and make-you-feel-grimy commercials.

32 posted on 03/16/2014 3:47:25 AM PDT by trebb (Where in the the hell has my country gone?)
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To: FlJoePa

Thanks for all the advice - I appreciate it. I come from NYC - the land of heroes!


33 posted on 03/16/2014 3:50:48 AM PDT by miss marmelstein (Richard Lives Yet!)
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To: F15Eagle

“If you can’t afford obamacare cancel your cable, cancel your cell phone, stop buying food, quit paying rent, sell your car, and then you can afford obamacare.” -Barry ‘ I will not rest’ Obama


34 posted on 03/16/2014 9:31:16 AM PDT by Organic Panic
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