DENVER BUSINESS JOURNAL - Quiznos, the Denver-based sandwich-shop chain that has been grappling with debt, is preparing to file for bankruptcy protection soon and is working on a prepackaged restructuring, the Wall Street Journal reported online Thursday.

The Journal cites unnamed "people familiar with the matter" in its report.

The company - formally known as QFA Royalties LLC - is carrying about $570 million in debt and has been in talks with creditors in recent weeks on a restructuring plan that's still in the works, the Journal says.

(The DBJ has asked Quiznos officials to comment on the WSJ report. Their response will be added to this story when it is received.)
The reported plan to seek protection is the latest development in Quiznos' long-running efforts to turn around its flagging fortunes.

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