Quiznos Sets Debt Restructure
The small chain restaurant business become more difficult every day. Bennigans is trying to rebuild a business which went into Chapter 11. A&W group was sold by Yum! Brands because it is no longer growing. All of the modest chains face…
The small chain restaurant business become more difficult every day. Bennigans is trying to rebuild a business which went into Chapter 11. A&W group was sold by Yum! Brands because it is no longer growing.
All of the modest chains face competition from McDonald’s (NYSE: MCD) which reported record earnings, Yum!, which owns KFC, and Subway, which claims it has more locations worldwide than any other fast food operations.
Quiznos has set a deal to restructure its debt, although this many not improve its prospects. Ownership of the company will move to Avenue Capital Group as part of the deal
The WSJ reports that
All told, the restructuring cuts Quiznos’s more than $870 million debt by about $300 million.
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