Food & Beverage

Quiznos set to file for bankruptcy as sales decline

Kathryn Scott Osler | The Denver Post | Getty Images

Quiznos is preparing to file for bankruptcy within a few weeks as it battles with declining sales, The Wall Street Journal reported Thursday, citing sources who know about the matter.

The Colorado-based restaurant has about $570 million in debt. Its creditors include Avenue, Fortress and Oaktree.

Quiznos, which operates restaurants in the U.S. and in 34 other countries, was founded in 1981 and is best known for its toasted sandwiches.

Click here to read the full report from The Wall Street Journal.