Quiznos and Sbarro bankrupt

[DrLeftover]

March 14 (Bloomberg) -- Quiznos Corp., the Denver-based toasted-sandwich chain, filed for bankruptcy days after pizzeria company Sbarro LLC sought protection from creditors, as competition among fast-food restaurants grows in a tight market.

Quiznos said it’s seeking to implement a reorganization that would cut debt by $400 million. Most of its senior lenders support the plan and the chain will keep operating during bankruptcy, according to a company statement today.

Competition among U.S. restaurants has been increasing as newer fast-casual chains expand quickly. Sbarro filed for bankruptcy on March 10, while the owner of Hot Dog on a Stick filed last month, as foot traffic in shopping malls dwindled and chains such as Panera Bread Co., Chipotle Mexican Grill Inc. and Subway Restaurants cut into their business.

http://www.sfgate.com/business/bloomberg/article/Quiznos-Follows-Sbarro-to-Bankruptcy-Amid-5320613.php

 

[Nebulous's iconNebulous]

Our mall had a Sbarro up until... 10 years ago I think. Quiznos is all over the place. They can afford to close some of them.