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Quiznos files for bankruptcy protection

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business Willmar, 56201
Willmar Minnesota 2208 Trott Ave. SW / P.O. Box 839 56201

Sandwich chain Quiznos Corp filed for pre-packaged bankruptcy protection on Friday after struggling with high debt and stiff competition for years.

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The chain, known for pioneering the concept of toasted subs, said the restructuring would cut its debt by more than $400 million.

All except seven of its nearly 2,100 restaurants are independently owned and operated by franchisees and will not be affected by the bankruptcy, the company said in a statement.

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