Quiznos faces financial woes

16 August, 2011
Page 4 

American sandwich giant Quiznos is facing financial difficulties.

The firm, which peaked at 29 outlets in the UK in 2008, closed its head office in Hove at the start of 2011 and is still seeking a new master franchisee.

Father and son Kazem and Michael Najafi had previously owned Quiznos' UK licence and planned to open 500 outlets here.

Companies House now lists the firm as being overdue with its last accounts in the UK. A few UK franchise outlets remain, supplied directly from the USA. One remaining franchisee told British Baker that a new master franchisee for the UK would be appointed shortly.

In America, Denver-based Quiznos has closed 1,500 outlets in the last four years and has brought in restructuring advisers to help rework its finances.

>>Recession hits US sandwich chain





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