Quiznos Seeks To Restructure Debt For Second Time

Seeking to stave off creditors to whom it owes nearly $600 million, Quiznos, a sandwich chain that peaked in popularity in 2008 with its toasted subs, is now seeking to restructure its debt load for the second time in as many years. The Denver-based chain recently missed a payment on a loan, hired bankers and lawyers and began negotiations to restructure some or all of its debt, according to a report in the Wall Street Journal. Buying for time The negotiations with creditors are designed to provide Quiznos a valuable commodity: time. Quiznos Chief Executive Stuart Mathis is using the…