Report pegs new parent, debt deal for sandwich chain, operators seek clarity
Quiznos franchisees said Thursday they were eager to see resolution of a reported debt restructuring deal that would bring in new ownership for the beleaguered sandwich chain. The Wall Street Journal reported Thursday that Quiznos’ largest lender is driving a plan to cut the chain’s more than $870 million debt load by about $281 million in a debt-for-equity swap with hedge fund Avenue Capital Group. If approved by other creditors, the deal would give Avenue Capital a more than ...
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