Menu
Trending: Holiday Gifts | CES 2015 | Super Bowl 2015 Ads More Topics: Apple | Cars | TV Shows | Politics
Star Wars Christmas Lights Video Goes Viral

Star Wars Christmas Lights Video Goes Viral

CES 2015: LG will unveil its New 4K Ultra HD TV with Quantum Dot Technology

CES 2015: LG will unveil its New 4K Ultra HD TV with Quantum Dot Technology

Budweiser Super Bowl 2015 Ad leaks

Budweiser Super Bowl 2015 Ad leaks

The Best 2014 Super Bowl Ads

The Best 2014 Super Bowl Ads

Tesla Roadster Makes Comeback

Tesla Roadster Makes Comeback

Quiznos Bankruptcy Follows Sbarro’s Insolvency

Mar 15 2014, 8:08am CDT | by , in News | Other Stuff

Quiznos Bankruptcy Follows Sbarro’s Insolvency
Quiznos
 
 

More than 99% of its restaurants will carry on as usual. Only seven will seek the help of the state’s economic structures. But nevertheless Quiznos is filing for bankruptcy. The prepackaged restructuring is to occur without fail. That means that the food chain’s debt will get slashed by $400 million or so.  

Quiznos is a fast food chain that specializes in the toasted sub which is a hot and crispy deal alright. Although people love to eat at Quiznos, the competition from other fast food chains is pretty stiff. Add to that the state of debt the franchise finds itself in and you have all the makings of trouble. 

The food firm’s agility is to be increased via this rather drastic action and its functioning will get better too. The words that the franchise wants to apply to itself in the future are: pure, top quality and absolutely delicious. 

"The actions we are taking are intended to enable Quiznos to reduce our debt, execute a comprehensive plan to further enhance the customer experience, elevate the profile of the brand and help increase sales and profits for our franchise owners," said Stuart K. Mathis, Quiznos Chief Executive Officer. "We look forward to continuing to work with and support our global network of franchise owners, who are the backbone of our business."

The company filed for Chapter 11 in the US Bankruptcy Code. Quiznos has over 2100 branches spread throughout the United States as well as the rest of the world. The decision to file for bankruptcy came at a time when another food chain is also doing the same thing. Sbarro, the pizza company is in the same boat as Quiznos. 

In fact, the main issue facing these food chains is the ten thousand other eateries that have sprouted everywhere. This mushrooming of so many other enterprises has virtually bled Quiznos and Sbarro dry. Future growth would have been impossible without this desperate step taken by both. The plan for the times to come is simple enough. 

Mathis continued, "Our business plan includes several key elements aimed at supporting our franchisees, including reducing food costs, implementing a franchise owner rebate program, in certain circumstances making loans available to franchisees for restaurant improvements, investing in advertising to improve location awareness, and providing new incentives for prospective franchisees. We are also introducing new technology at the restaurants and taking other actions to help our franchisees operate their businesses more efficiently."

 

A reduction in food prices, a rebate scheme, loans for franchisees and advertising efforts are just a few of the things which need to be done. Furthermore, Quiznos will get $15 million in financial aid from its elderly supporters. So maybe things will get back to normal after all despite the shock of going bankrupt.    

You Might Also Like

Read the Latest

The Interview goes Viral Worlwide via Torrent Downloads

The Interview goes Viral Worlwide via Torrent Downloads Sony Pictures were looking hard for a way to distribute the movie when BitTorrent offered to put the movie in Torrent...

1 hour ago

BMW will unveil 6 Series and M6 Coupe, Gran Coupe and Convertible Models at the NAIAS 2015 in Detroit

BMW will unveil 6 Series and M6 Coupe, Gran Coupe and Convertible Models at the NAIAS 2015 in Detroit At the Detroit Auto Show 2015, BMW will present the new models including BMW 6 Series Convertible, BMW 6 Series Coupe,...

2 hours ago

CES 2015 News
After Christmas Sales 2014 have some Really Cool Stuff for Everyone

After Christmas Sales 2014 have some Really Cool Stuff for Everyone The after Christmas sales 2014 have some really funky and cool stuff for nearly everyone. There are gadgets and...

2 hours ago

Jennifer Lawrence Kids Hospital Christmas Visit Photos go Viral

Jennifer Lawrence Kids Hospital Christmas Visit Photos go Viral The Hunger Games star visited the kids hospital in her hometown Louisville, Kentucky on Christmas Eve. She also visited...

3 hours ago

Sony Xperia Z4 to Launch at CES 2015

Sony Xperia Z4 to Launch at CES 2015 Sony Xperia Z4 Ultra may see the light soon at the CES 2015 after the new leaked information.

4 hours ago

Nadine Leopold Instagram Hottest Pictures

Nadine Leopold Instagram Hottest Pics Victoria’s Secret supermodel, Nadine Leopold and Harry Styles may be much more than just good friends. She may be his...

4 hours ago

Kodak debuts its First Range of Android-powered Mobile Devices at CES 2015

Kodak debuts its First Range of Android-powered Mobile Devices at CES 2015 Kodak partners with Bullitt Group to launch a new range of Android powered mobile devices at CES 2015.

5 hours ago

Mozilla and KDDI debut Fx0, First Firefox OS Smartphone with 4G LTE and NFC

Mozilla and KDDI debut Fx0, First Firefox OS Smartphone with 4G LTE and NFC The services, Mozilla and KDDI, have introduced first Firefox OS smartphone 'Fx0', based on Web technology...

5 hours ago

Marshawn Lynch Touchdown Fine is $11,050

Marshawn Lynch Touchdown Fine is $11,050 Marshawn Lynch was awarded an $11,050 touchdown fine for bad behavior (one of the most ridiculous 79-yard runs) on the...

6 hours ago

Elon Musk says new Tesla Roadster has almost 400 mile Range

Elon Musk says new Tesla Roadster has almost 400 mile Range Elon Musk tweeted that the new Tesla Roadster has almost a 400 mile range. More details of the new Tesla Roadster are...

6 hours ago

CES 2015 gets Highest Honors for Creative Campaigns

CES 2015 gets Highest Honors for Creative Campaigns Tradeshow, MarCom and Visual Arts Professionals have recognized CES’s superb advertising and marketing campaigns. The...

6 hours ago

Xbox and PlayStation Networks hacked by Lizard Squad on Christmas

Xbox and PlayStation Networks hacked by Lizard Squad on Christmas The Xbox and Playstation online services have unfortunately been hacked and disabled by a group of no-gooders known as...

7 hours ago

Facebook launches FaceTube to compete YouTube

Facebook launches FaceTube to compete YouTube It has established that all businesses on Facebook will be offered a featured video strip with the latest videos...

21 hours ago, 12:28pm CST

LG makes 4 additions to wireless speakers range for CES

LG makes 4 additions to wireless speakers range for CES The new additions include a battery-powered portable wireless speaker, two sound bars and a streaming 3D Blu-ray Player

21 hours ago, 12:26pm CST

First Shelby GT 350 Mustang to be Barrett-Jackson's Scottsdale sale

First Shelby GT 350 Mustang to be Barrett-Jackson's Scottsdale sale The proceeds of the sale are going to be donated to the Juvenile Diabetes Research Foundation (JDRF)

21 hours ago, 11:54am CST

LG Exec Could Be Banned From CES For Sabotaging a Washing Machine

LG Exec Could Be Banned From CES For Sabotaging a Washing Machine Samsung filed a lawsuit for property damage and defamation against five LG execs back in September

23 hours ago, 9:57am CST

Madonna Tracks Leak Online Again from Rebel Heart

14 More Madonna Tracks Leak Madonna’s new album Rebel Hearts has already been hacked once before. Five of the tracks were officially released on...

1 day ago, 8:38am CST

MINI John Cooper Works Hardtop to be displayed at the NAIAS Detroit 2015

MINI John Cooper Works Hardtop to be displayed at the NAIAS Detroit 2015 BMW’s famous mini cooper’s new design will be displayed at the NAIAS 2015 in Detroit.

1 day ago, 8:18am CST

Sarah Palin Channel Wardrobe Controversy Video was a Publicity Stunt?

Sarah Palin Channel Wardrobe Controversy Video was a Publicity Stunt? Most people are talking about the one term governor’s show of skin on live channel. Sarah Palin ran for the Vice...

1 day ago, 7:54am CST

Patchworks to represent North and South America at CES 2015

Patchworks to represent North and South America at CES 2015 Patchworks Global Inc. make flawlessly engineered products for iPhone Screen Protection that it will display at the CES...

1 day ago, 7:47am CST

How to Watch The Interview Online Right Now

How to Watch The Interview Online Right Now Sony Pictures announce the online release of ‘The Interview’ with the help of online sources. Google, Microsoft and...

1 day ago, 7:05am CST

Luxoft Software Development Services will also participate in CES 2015 and CTS 2015

Luxoft Software Development Services will also participate in CES 2015 and CTS 2015 It seems everyone is eager to take part in the CES 2015.

1 day ago, 6:13am CST

Peyton Manning to Return to Broncos in 2015

Peyton Manning to Return to Broncos in 2015 The player, Peyton Manning, is planning to return to Denver Broncos next year since he has no plans to leave the field...

1 day ago, 6:08am CST

First Alert also to take on the Polar Vortex at CES 2015

First Alert also to take on the Polar Vortex at CES 2015 The new Onelink Series by First Alert introduces many new products which will be displayed at the CES 2015. New Onelink...

1 day ago, 5:20am CST

Uber CEO Charged with Illegitimate Business Practice in South Korea

Uber CEO Charged with Illegitimate Business Practice in South Korea The CEO of taxi service Uber has been charged with illegitimate business practice in South Korea.

1 day ago, 5:15am CST

NBA pulls Sorority Sisters Advertising

NBA pulls Sorority Sisters Advertising NBA has announced Wednesday to pull all advertising from VH1's Sorority Sisters show.

1 day ago, 4:33am CST

First Alert to debut Onelink Series of Smart Devices at CES 2015

CES 2015 to feature First Alert Onelink Series of Smart Devices These new and innovative products by First Alert will bring a new level of security and accessibility to Connected Home...

1 day ago, 4:27am CST

NFL Video Clips will be shown on Facebook with Verizon Wireless Ads

Facebook-NFL Deal: NFL Video Clips will be shown on Facebook with Verizon Wireless Ads Facebook is into showing NFL post game highlights and other video clips with a little advertising help from Verizon.

1 day ago, 3:35am CST

Acura NSX Production Model to debut at NAIAS 2015

Acura NSX Production Model to debut at NAIAS 2015 The luxury vehicle division of Honda Motor Company will be displaying its new model at the NAIAS 2015.

1 day ago, 3:00am CST

Renovo Coupe to be on display at CES 2015

Renovo Coupe to be on display at CES 2015 The first all-electric American supercar will be featured in the NVIDIA Booth (#30307)

1 day ago, 2:39am CST

Comments

blog comments powered by Disqus