Just the other week we were wondering which restaurant chain would be the next to go bankrupt, and today it sounds as if the leading candidate is Quiznos. The Wall Street Journal is passing along a whole bunch of bad news: Same-store sales were down 13% in May, the company won’t meet its quarterly performance projections, the company is buried in debt, and franchisees continue to be upset with Quiznos corporate — one franchisee in Florida even buys his supplies from Sam’s Club. Oh, and then there’s the fact that Subway is just killing it these days. Not only do Subway’s sandwiches apparently taste better, but the Journal says there are currently only 3,500 Quiznos shops out there in the world. We’re pretty sure we see more than 3,500 Subways shops on our way to work in the morning. [WSJ]
The sub chain is in trouble.