Quiznos Hits Ch. 11 Looking To Slash $400M In Debt

Law360, Wilmington (March 14, 2014, 6:00 PM EDT) -- The company that owns sandwich chain Quiznos filed for Chapter 11 protection Friday in Delaware, armed with a prepackaged reorganization plan the firm says will slash its debt by more than $400 million and an intention to pursue misconduct claims against former brass connected to an earlier restructuring.

Quiznos' parent QCE Finance LLC, along with more than a dozen affiliates, filed petitions for court protection in Delaware Bankruptcy Court listing between $500 million and $1 billion in debt.

The Chapter 11 filing does not include the...
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