Quiznos Looks Toast as Bankruptcy Looms for Sandwich Chain

Quiznos was given one week last Friday in order to reach an agreement on its debt and it looks like bankruptcy is looming. The Denver-based sandwich chain had 5,000 stores at its height and now has less than a thousand.

Related Videos

  • Floundering Quiznos Files For Chapter 11 Bankruptcy

    Outpaced by competitors Subway and Jimmy John's, the sub shop will continue operations while cutting debt and implementing recovery policies.

  • Relativity Media Lays Off 75 Employees, as Chapter 11 Bankruptcy Looms

    Embattled Relativity Media issued layoff notices to 75 of its 350 employees Wednesday, another sign that the debt-laden entertainment company is on the verge of a bankruptcy filing. Word came to worker after CEO Ryan Kavanaugh’s repeated failure to find new investors or loans to plug a yawning $320 million debt obligation. Those are relatively new operations that are said to put a particularly onerous drag on the bottom line of the Beverly Hills-based company.

  • Judge to Rule on San Bernardino Bankruptcy, Pensions Loom

    The city of San Bernardino is expected to learn if it is eligible for bankruptcy protection, despite the opposition of California's powerful public pension system. The case is an important test for the federal law used by Detroit and other U.S. cities burdened by pension payment costs.

  • Janice Dickinson -- My Fiance's Got Deep Pockets ... To Help Pay Off My Bankruptcy Debt

    Janice Dickinson is too old and too broke to repay the huge debt she allegedly racked up by bouncing checks, but luckily she has a rich fiancé -- this according to the bank that just settled up with her. According to bankruptcy docs, City National Bank claims Dickinson owes more than $300k in connection with checking overdrafts ... but the bank just agreed to end the whole matter for a mere $100,000.

  • RadioShack Files for Chapter 11 Bankruptcy

    RadioShack filed for Chapter 11 bankruptcy protection on Thursday. The electronics chain filed its long-awaited bankruptcy papers Thursday evening; it aims to reorganize under Chapter 11. According to Reuters, the retailer reported assets of $1.2 billion and debts of $1.3 billion as of Nov. 1. General Wireless, a subsidiary of Standard General, RadioShack's largest shareholder and lender, has agreed to buy 1,500 to 2,400 of the company's stores. The deal requires court approval.

  • Committee For Unsecured Creditors Appointed In Detroit Bankruptcy

    The judge overseeing Detroit's historic bankruptcy case on Monday named a committee to represent interests of the unsecured creditors as the city prepares to submit a plan to the court to readjust its debt. "Its primary power... is to have a stronger voice than an individual creditor, while actively participating in the negotiation of a plan for the adjustment of the debtor's financial obligations," said a December 6 letter sent to all prospective committee members by the U.S.

  • Detroit, Creditors Lay Groundwork For Fight Over Bankruptcy Plan

    Detroit claimed on Wednesday that its plan to adjust its debt and exit bankruptcy is feasible and fair to creditors, but a bond insurance company contended the plan calls for "historic levels of discrimination" among creditors. Bruce Bennett, a Jones Day attorney representing Detroit, wrapped up his three-hour opening statement by disputing arguments from creditors who claim the city's plan to adjust its $18 billion in debt is inadequate and should be scrapped.

  • Sbarro Says It Exited Bankruptcy Protection

    Pizza chain Sbarro says it has exited bankruptcy protection. According to court filings, a judge approved the company's reorganization plan on May 19, and that plan took effect Monday. Sbarro says it will move its company headquarters to Columbus, Ohio, to reduce expenses and be closer to its new Pizza Cucinova business, which lets people build their own pizzas.

  • Gold Jumps as Debt Ceiling Looms

    Gold prices jump as the weekend failed to yield a debt ceiling agreement between the president and House Republicans.

  • Why 'Chained CPI' Will Hurt Debt-Reduction In The Long Term

    Joseph Greco, managing director with brokerage firm Meridian Equity Partners Inc., weighs in with IBTimes TV about whether or not "chained CPI" will reduce debt-reduction in the long term. The Federal Open Market Committee's (FOMC) March minutes were released Wednesday which revealed that several Federal Reserve officials said the central bank should begin reducing its quantitative easing program later this year and stop it by year end. The minutes were from the March 19-20 meeting, about two we

  • Caesars' Operating Unit Files for Bankruptcy, but Venue Unclear

    The operating unit of Caesars Entertainment Corp, the largest U.S. casino company, filed for Chapter 11 bankruptcy on Thursday to implement its plan to cut $10 billion of debt, but faced an immediate challenge over where the case should proceed.The company said it has the support of its senior noteholders to implement the plan, which will reduce the operating unit's debt to $8.6 billion from $18.4 billion.

  • Breakfast Sales Heat Up at Fast-Food Chains McDonald's and Taco Bell

    Breakfast sandwiches and wraps have become some of the hottest-selling items on the menus of the nation's fast food giants. McDonald's may lag its competitors in terms of breakfast sandwich innovation, but it still manages to derive about 25% of its U.S. sales from the Egg McMuffin, sold since 1971, and its traditional breakfast items.

Other Job Interviews Videos

  • How Should You Dress for a Job Interview?

    Are the dress codes for job interviews changing? In a world where tech companies set standards, should you dress like Mark Zuckerberg or Steve Jobs? The Moneyologist weighs in on Lunch Break With Tanya Rivero.

  • How to Nail a Job Interview

    Got a job interview coming up? Use our 9 interview tips and you’ll literally be rolling in money in no time (if you’re mental).

  • The Biggest Mistake You Can Make on a Job Interview

    Job interviews are stressful, no matter how you look at it. But, you can make it a lot easier by avoiding 4 simple mistakes. By what you wear to how you act to what you say, we'll show you how to act like a pro and like you belong.

  • Acing the Job Interview: How to Be Memorable for the Right Reasons

    Job interviews are nerve-wracking even for the most seasoned professionals, but prepping for them means they can be less stressful. Of course, no matter the rehearsal work, most important is to avoid mistakes, especially the Cardinal sins that can be particularly detrimental to the average job seeker's employment prospects.

  • 10 Ways to Blow a Job Interview According to Career Expert

    According to career expert Roy Cohen, there are at least ten ways you can blow a job interview. They include: you talk over the interviewer, you embellish the details, you arrive late, you shake hands like a dead fish, you are obsessed with the device of your choice, you don't ask the right questions, you smell, you dress to thrill, you over-share, and you don't anticipate the push-back.

  • The 4 Biggest Mistakes You Can Make on a Job Interview

    The job interview is go time, your make it or break it, it's your time to shine. Find out the four mistakes to avoid to get that job!

  • How to Prep for Job Interview Questions

    Chris Tamura of the International School for Hospitality speaks about how to prep for tough job interview questions.

  • 4 Ways to Ace a Job Interview

    Shanna Landolt, contributing author of "101 Great Ways to Compete in Today's Job Market," shares how to turn a job interview into an offer.