Quiznos announces completion of its financial restructuring, emerges from Chapter 11
July 1, 2014
– Quiznos, a premier quick-service restaurant chain and pioneer of the toasted sub, today announced it has successfully completed its financial restructuring and emerged from Chapter 11.
"Today marks the start of a new chapter for our Company," said Stuart K. Mathis, Quiznos Chief Executive Officer. "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."
Mr. Mathis continued, "As we move ahead, we look forward to taking additional action to help increase sales and profitability for our franchise owners."
As previously announced, Quiznos' Plan of Reorganization was confirmed by the U.S. Bankruptcy Court in Wilmington, Delaware on May 12, 2014.
Denver‐based Quiznos is a chain designed for today's busy consumers who are looking for a high quality, tasty, freshly prepared alternative to traditional fast‐food restaurants. With locations in 50 states and 30 countries, Quiznos is one of the world's premier quick‐service restaurant chains and pioneer of the toasted sandwich; Quiznos restaurants offer creative, chef‐created sandwiches and salads using premium ingredients. Quiznos was founded in 1981 by chefs who discovered that toasting brought out the best in every sandwich ingredient. For more information, please visit www.quiznos.com.