Sbarro isn’t the only national chain filing for bankruptcy this week. Denver-based sandwich chain Quiznos, which has closed a number of East Valley stores in recent years, filed today.
Quiznos listed debt of more than $500 million in Chapter 11 documents. Its reorganization plan would cut that debt to just $100 million.
All but seven of Quiznos’ 2,100 locations are independently owned and operated as franchises. The restaurants will continue operating as usual.
Quiznos has four locations left in the East Valley, and just 10 in the entire Valley. There are no others in Arizona.
Analyst blamed Quiznos’ problems on increased competition from Subway and Panera Bread.
