Only days after the pizza chain Sbarro has filed for Chapter 11 bankruptcy reorganization, the company Quiznos, which runs sandwich shops all throughout the U.S., has done the same. Executives at Quiznos say that the restructuring plan will reduce debt by more than $400 million if all goes smoothly. All but seven of Quiznos 2,100 restaurants in the U.S. and other countries are independently owned franchises, and will remain open and operating while the company undergoes their restructuring.

At one point, Quiznos had over 5,000 stores, but many of the establishments have closed. Quiznos toasted sandwiches were thought to rival Subway, but the older sub sandwich chain has nearly 20 times the number of stores. Currently, subway has about 40,000 locations in 100 countries. Quiznos believes that during their bankruptcy they will be able to learn how to increase sales and profits for its franchise owners going forward. The company intends to reduce food costs if possible, and invest in local advertising to try to entice more hungry customers to walk through their doors.

They are also hoping to make loans available for restaurant improvements, hoping that a cool and welcoming atmosphere may draw more people into the store. Quiznos is based out of Denver, and has lined up approximately $15 million from investors to help the business continue running during the bankruptcy process. Whether you are the executive running a multi-million dollar corporation, or an entrepreneur running your own small business, a bankruptcy can be a valuable tool to help you get out of debt and reorganize your finances in an efficient way.

For some, bankruptcy is a fresh start. This means that bankruptcy can be a helpful tool in assisting you with your debts and helping you to reorganize in an efficient manner. If you are interested in exploring bankruptcy options, don't hesitate to contact a lawyer at a local bankruptcy firm for more information. You should never attempt bankruptcy on your own, but always rely on a helpful and skilled attorney to assist you in your case. With the right lawyer on your side, you will be able to structure a strategic bankruptcy plan that accounts for all of your assets and liabilities and works towards financial success. Discuss the options of bankruptcy with a local lawyer today!