Quiznos Follows Sbarro to Bankruptcy Citing Growing Competition

Quiznos Corp., the Denver-based toasted-sandwich chain, filed for bankruptcy days after pizzeria company Sbarro LLC sought protection from creditors, as competition among fast-food restaurants grows in a tight market.

Quiznos said it’s seeking to implement a reorganization that would cut debt by $400 million. Most of its senior lenders support the plan and the chain will keep operating during bankruptcy, according to a company statement yesterday.