What Happened to Quiznos? 4,000+ Closures — But There’s Still Hope

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. Fast-forward 17 years and the brand’s footprint has decreased by 94%, Eat This reports. In June 2022, there were only 170 Quiznos open.

The closing of more than 4,000 units happened because “Quiznos had a bad business model, a tough competitor, a devastating recession and a leveraged buyout,” Restaurant Business Online explained in a piece about the company’s downfall.

Between high food costs, low profits and the implications of a private equity buyout in 2006, franchisees within the Quiznos system were not happy. The system started to crumble from within, with units closing left and right and former operators suing. In 2014, the brand filed for bankruptcy and had $875 million in debt. 

“They really got wiped out by the financial crisis from 2007 to 2009, and never really recovered, and have been on a downward trajectory ever since that,” explained Patrick Findaro, co-founder of VettedBiz, in a video. 

The recession hit the brand hard, and it never 700 stores shuttered in 2009, 800 in 2010, and closures have continued every year since, although the rate has slowed to double-digits. VettedBiz data shows there were 69 outlets closed in 2018, 26 in 2019 and 50 in 2020.

However, the brand announced plans for a redesigned concept in 2022, a sign that Quiznos is not yet ready to admit defeat. The franchise now has a "globally inspired menu” and said it is seeking out “more exciting flavors to add to our restaurants and provide a unique, new experience” in a press release. 

With its new business model, Quiznos touts the brand’s unique approach to construction and compelling speed of service and invites investors to learn more about the opportunities that are currently available.