Quiznos Avoiding Bankruptcy

Quiznos was reportedly facing possible bankruptcy, but has been able to avoid it with a new deal that was reached. According to reports, the business reached an agreement with a significant majority of its first- and second-lien lenders. As a result, the restructuring plan will have it reduce the company's current debt. Now, the company will still keep Chapter 11 bankruptcy as a possibility if it does not receive tenders from 100 percent of the holders.

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