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Dec 15, 2022 · By 2007, franchisees were suing the company over low unit volumes and profits. Then they began closing stores at a rapid clip. In 2014, when Quiznos filed for bankruptcy, it had just 1,000 locations, a number that has shrunk every year since.
Jun 7, 2021 · With more franchisees leaving the network, and the world slowly recovering from a major recession, the brand began looking for ways to remain relevant in a shifting consumer landscape. In 2015, a year after filing for bankruptcy, Quiznos launched the Quiznos Grill Concept.
Aug 5, 2024 · Following the acquisition of the brand by a private equity firm in 2018, the omnipresent Quiznos seemed to disappear. According to WCRZ, there are roughly 150 Quiznos restaurants spread over 35 states in the U.S. compared to the 4,700 stores that were spread across the map 20 years ago.
Apr 9, 2024 · Its franchise offering and IPO in 1994 would lead to the chains’ eventual expansion to over 5,000 locations worldwide at its peak. But as of 2024, there are less than 400 locations opened globally and less than 200 locations in the United States.
- Keith Donovan
Jan 13, 2023 · The sandwich chain had a fall from franchising grace but is aiming for a resurrection. In the early 2000s, Quiznos was a premium-choice sandwich chain, a top competitor of Subway and a franchise with nearly 5,000 locations worldwide in 2006.
Aug 24, 2023 · Quiznos was founded in 1981, and grew to 18 locations before the whole company was sold to one of their franchisees, Rick Schaden. Forbes says he's the one that came up with the bizarre business plan, and it ended up breaking the franchise owners they should have been helping.
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They renamed it the Quiznos Franchise Corp. Rick Schaden became the president and then CEO of Quiznos after the purchase. Quiznos was taken public in February 1994, with an initial public offering of 1,000,000 shares of stock at $5 per share, resulting in a $4.4 million yield.
