Quiznos Reaches Debt Deal To Avoid Bankruptcy

DENVER (Denver Business Journal) - Denver-based Quiznos on Tuesday announced it has reached a debt-restructuring deal that gives the control of the company to New York-based hedge fund Avenue Capital Group and will help it avoid bankruptcy court.

The deal eliminates nearly one-third, or about $300 million, of the company's outstanding debt, and provides an infusion of $150 million in new equity from Avenue Capital Group.

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