Quiznos Looks Toast: Bankruptcy Looms for Sandwich Chain

Denver-based sandwich shop Quiznos is running out of time to reach an agreement on its debt and could file for bankruptcy as soon as Friday.
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Quiznos was given one week last Friday in order to reach an agreement on its debt and it looks like bankruptcy is looming. The Denver-based sandwich chain had 5,000 stores at its height and now has less than a thousand. Quiznos, which has already restructured once, has debt of roughly $570 million and could file for bankruptcy on Friday. Franchisees have complained about the high cost of food and supplies the chain forced them to buy, but the quality of the food was never in doubt. Quiznos operated over 5,000 stores in 2008 but now has less than 1,000. TheStreet's Debra Borchardt has details from New York.

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