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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. It is one of the biggest collapses in industry history.
Jun 13, 2018 · On Monday, Quiznos was sold to an investment firm out of San Diego. This has given me time to tell the story of one of the biggest restaurant chain collapses in industry history. Between 2007 and 2017, Quiznos shrunk from 4,700 U.S. locations to fewer than 400.
Jun 7, 2021 · Only Subway edged ahead, and Quiznos’ allegedly superior quality (albeit quality that came with a heftier price tag) was elevating the franchise network to unforeseen heights. So how did the brand go from all that to just under 500 global sites?
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
Aug 21, 2024 · This article explores Quiznos’ downfall, focusing on their franchise problems, financial troubles, and market share loss. We’ll dive into their operational challenges , franchisee lawsuits, and how mounting debt led to bankruptcy proceedings and numerous restaurant closures.
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.
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May 30, 2023 · By 1981, Quiznos was a fledgling sandwich joint with big dreams. Two years later, they began selling franchises. This decision spurred rapid growth and allowed them to extend their reach beyond Denver. A mere four years later, the franchise count reached a dozen.
