Bankruptcy close for Quiznos after Subway smackdown

Quiznos is moving closer to filing for bankruptcy, according to the WSJ.

Many Quiznos franchisees are reported monthly losses and are looking for an exit.

A Chapter 11 filing would give the restaurant chain the ability to rework some of its more restrictive leases and contracts.

The Quiznos quandary: The rise of Subway has severely thwarted the growth track of Quiznos, while emerging chains such as Potbelly (PBPB) and Jimmy John's have also set it back. Analysts see even a post-bankruptcy turnaround as difficult with the brand set back.

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