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Quiznos Bankrupt!

Franchisor Quiznos files for bankruptcy
Quiznos goes bankrupt but store signs still light up. Photo/bmm

DENVER –Quiznos, the franchise chain famous for its toasted sandwiches, announced just past noon today that it has filed for voluntary Chapter 11 bankruptcy protection.

Could Bankruptcy Be Ahead for Quiznos?

Rick and Dick Schaden, who own 51 percent of Quiznos, are still trying to find a way to save their highly leveraged franchising company. According to what this bird is hearing among finance experts at a current national restaurant conference in Sin City, what is at stake for the firm is lender's default or worse. 

Dippin Dots in Bankruptcy

On November 1, the franchisor's Board of Directors voted to file bankruptcy.

Round Table Pizza Files Chapter 11

Round Table Pizza, the 500 unit, privately held pizza coop, filed  for Chapter 11 reorganization Wednesday. The company could not pay down a $30M balance on a initial $65M line of credit negotiated with GE Capital and Prudential in 2006 as required.

Bank of New York Denied Fees in Brooke Franchise Bankruptcy

Bank of New York Mellon (BONY) acted out of self-interest as indenture trustee, ruled a federal bankruptcy court.

87-Unit Burger King Franchisee Files for Bankruptcy

An 87-unit Burger King franchisee, Duke and King Acquisition Corp., based in Burnsville, Minnesota, has filed for bankruptcy and is currently seeking buyers.

Uno Restaurant Issues Plan for Reorganization

The operator and franchisor of Pizzaria Uno and Uno Chicago Grill filed court documents outlining the proposed restructuring of the company.

Franchising Up: Franchising Down and Dangerous

The Franchise QuestionSYDNEY, AUSTRALIA - This article considers what BMM readers seem to agree are critical and universal dangers in franchising and especially at a time when confidence is down.

Forum & Venue Clauses in Bankruptcy

A recent federal court decision reinforces judicial deference to forum and venue clauses in business contracts.