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Johnny Carino’s Files for Bankruptcy

A Johnny Carino's franchise in Ky. Photo/bmm

Yet another franchisor in March cannot pay its bills. Johnny Carino's filed for bankruptcy on Thursday. The Texas-based Italian restaurant chain of 130 company-owned and franchised locations filed Chapter 11 protection to help it out of insolvency, according to Dow Jones ($$ subscription).

Quiznos Could File Bankruptcy by Monday Making Avenue Capital's Investment Toast

Quiznos Could File Bankruptcy by Monday
Photo by bmm

NEW YORK – Hedge-fund billionaire Marc Lasry is performing a high-wire act negotiating with lenders on another restructuring deal of Quiznos’ $600 million debt.

Are Franchises Commercial Marriages from Heaven or Hell?

Heaven or hell?SYDNEY, Australia — Since it flourished in the early 1970s under the influence of American fast food outlets such as McDonald's and KFC, franchising has become one of the most dynamic aspects of Australia's small business sector.

Real Mex Exits Bankruptcy

CYPRESS, Calif. — Real Mex Restaurants announced on Wednesday that it was exiting Chapter 11 bankruptcy.

Chrysler, GM Dealers TARP "Takings" Suit To Proceed

A claim against the US government under the "Takings" clause of the Constitution will proceed notwithstanding prior bankruptcy court litigation.

If All Else Fails, Quiznos Eyes Bankruptcy

Quiznos HQ, Denver
Quiznos World Headquarters, Denver. Qube store lies at bottom, photo/sparks

Unnamed sources have reported to the Wall Street Journal that Quiznos will  file Chapter 11 bankruptcy protection, if it doesn’t work out a deal with its new hedge fund partner.

Quiznos Strikes Deal on Debt Restructuring

Quiznos Lower Price Every Day Campaign 2009
Quiznos 2009 marketing campaign, "Lower prices every day." photo/AR McLin

DENVER - After struggling with slumping sales and a recent violation of debt terms, Quiznos has now struck a deal with Avenue Capital Group, a hedge fund controlled by billionaire Marc Lasry.

Sbarro Emerges from Chapter 11

Mama Sbarro, Theater District, New York City
Time's Square Mama Sbarro's, New York City. photo/Vincent Disjardins

MELVILLE, N.Y. — Franchisor Sbarro, Inc and its domestic subsidiaries announced late Monday afternoon that it has successfully emerged from Chapter 11 with a reduction in debt, an infusion of $35 million in capital and a plan of reorganization.

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. 

The Failure of Another Franchisor

Friendly Ice Cream Corp. last month became the latest in a string of classic American restaurant chains to file for bankruptcy protection. Founded in 1935, the Massachusetts-based franchising firm abruptly closed more than 60 locations and now hopes to reinvent itself as a leaner, viable business by early December.