What Quiznos Co-Founder Thinks of Its Bankruptcy

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March 14 (Bloomberg) -- Jimmy Lambatos, co-founder of Quiznos, discusses how the sandwich chain was founded and what he thinks of the company filing for bankruptcy protection. He speaks with Pimm Fox on Bloomberg Television's "Taking Stock." (Source: Bloomberg)

In their chapter 11 documents.

To tell us more is its cofounder.

He joins us from denver with the first quiznos opened in 1981. thank you for being with us.

Take us back to the time when the first restaurant opened.

What was in your mind when you started it?

When we started, in 1981, the story still there and operating, i came in here from new york.

I was used eating scene which is baked in the oven.

I came out to denver to go to school, ended up eating summary and sandwiches on hotdog buns and thought there was a better way to do it.

We created our first in which on 13th in grant.

We run it through a pizza bakers pride evan.

The lines got so long when we opened.

We ended up getting a conveyor belt of an -- conveyor belt type of oven.

Was that the innovation that allowed you to meet the demand?

It was the recipe having to do with the bread itself.

It was.

The rt's and -- the crusty italian bread.

The oracles and vinegars.

This was before the age of no carbs.


We started building on a product that came from the east coast.

We studied a lot of submarine sandwich franchises that were starting at the time.

You had blimpie.

You had pot bellies.

You had subway.

They were using a softer bread and what we were trying to do.

We came out with something that was more parties and on -- more artisinal.

It came together.

There was a deli in columbus ohio by the name of quizino tino's. and that was that.

They're the most recognizable.

It certainly became recognizable as symbols.

The company went public in 1994. bring us up-to-date.

You are no longer involved in the day-to-day operations because you franchised the business.

It went public.

Can you tell us about the difference between the corporate parent and the franchise operations?

The corporate parent ended up buying it and taking it public, raising the money they need to grow it to 4000 stores.

At their peak in 2001, it was the fastest-growing franchise in the country.

The fastest fast food franchise in the country.

The marketing, everything they were doing at the time was spot on.

The recipe for success was spot on.

Everything was moving in the right direction.

Everything was going great.

They hit the great recession and had to close 2000 locations.

They closed about 2000 and.

-- and, i wasn't involved at that time.

I was involved in 2004 with a super bowl commercial doing marketing campaigns.

Tell us about the circumstance of franchisees and their relationship to what would happen at the corporate parent in terms of their operation.

They are continuing to do business.

I think that when i was involved, they were -- part of the recipe for success was taking care of you -- taking care of the franchisees.

Obviously, down the road, and growing to 4000 stores, that didn't happen.

The avenue capital into getting most of the stores.

Then you follow this with the issue today of the bankruptcy filing.

Do think the chapter 11 will do the company breathing room to get its financial reforms in order as the franchisees continue to make sandwiches?

I think a larger company is probably going to need to put the money into it to take it to a level where they can sustain themselves in a competitive market.

You have the panera.

You have a lot of fresh idea products, franchises coming into play.

Unless you have all of the research and marketing savvy that they have back in 2004, i don't think he can sustain itself.

T of a favorite sandwich?

The italian sub is the one i created.

That is the one that i think is still the best.

If there is not a sandwich in your future, because we are watching our way, what else would they be on the menu?

I don't know.

I haven't been involved since

This text has been automatically generated. It may not be 100% accurate.


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