Saturday, March 15, 2014

Quiznos files for bankruptcy

The headline says it all.  From CNN
First, Sbarro. Now, Quiznos.
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.
When I was working in the blue printing industry, there was first a Quiznos shop nearby.  They were the first to offer the "toasted sandwiches," which Togos and Subway did not offer.  And their toasted sandwiches were tasty.  But they were also expensive--almost $8 or $10 per meal, compared to $5 - $7 meals for Togos and Subway.  Sometimes it seemed like I would be spending one hours worth of pay just to buy a Quiznos' lunch.  If I am really hungry, I could buy a Subway $5 footlong--without chips and soda--and that would fill me up more than a Quiznos sandwich or lunch deal, at the higher price.

No loss for me.

No comments: