Quiznos Completes Financial Restructuring
Quiznos 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.”
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, CO-based Quiznos is a quick-service restaurant chain.
Previously on abfjournal: Bloomberg: Court Approves Quiznos Recovery Plan, May 13, 2014