Quiznos turns the page on Chapter 11
by Bryan Salvage
DENVER – Quiznos, a leading quick-service restaurant chain and self-acclaimed pioneer of the toasted sub, announced it has completed its financial restructuring and emergence from Chapter 11.
"Today marks the start of a new chapter for our company," said Stuart Mathis, CEO. "With our financial restructuring behind us, we now have a stronger foundation to execute our comprehensive plan to strengthen performance, revitalize the Quiznos brand and reinforce its promise as a fresh, high-quality and great-tasting alternative to traditional fast-food offerings. We sincerely appreciate the support of our franchisees, employees and vendors, who enabled us to continue providing Quiznos customers with high-quality menu offerings and superior service throughout this process.
"As we move ahead, we look forward to taking additional action to help increase sales and profitability for our franchise owners," he added.
On May 12, 2014, Quiznos' Plan of Reorganization was confirmed by the US Bankruptcy Court in Wilmington, Delaware. Quiznos has locations in 50 states and 30 countries.