Quiznos has reached an agreement with lenders and equity partners, the sandwich chain said.
The company looks “forward to continuing to work constructively together to establish a framework that will position Quiznos and our franchisees for future growth and success,” according to the e-mailed statement today.
The Wall Street Journal reported yesterday that Quiznos is struggling with its two-year-old turnaround and seeking concessions from creditors owed almost $600 million.
Elizabeth Sapp, a spokeswoman for the company, declined to comment beyond the statement.
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