Trouble is rumbling for the Quiznos company, but despite the struggles, the hot subs SVSU students so often survive on will still be available on campus.
According to a report from the Detroit Free Press, Quiznos’ bankruptcy issue has to do with Subway beating out their competitor. Quiznos has been left with more than $500 million in debt.
Despite such debt, Quiznos isn’t planning on closing its doors any time soon. The company has a plan to settle their debts effectively using restructuring deals and forbearance agreements with lenders.
Marketing Manager of Dining Services Jason Wolverton said Quiznos’ financial troubles should not affect SVSU.
“Quiznos as a brand is struggling, but ours (here on campus) is doing well,” he said. “Long term, it’s hard to be certain, but we don’t expect any changes for students.”
Wolverton’s role at SVSU is to get word out about locations and promotions for all the brands on campus. With Quiznos specifically, Wolverton executes the promotional materials the company provides SVSU.
Quiznos officially filed for bankruptcy Friday. Despite reports of Quiznos’ financial troubles, Wolverton stressed that students should know Quiznos isn’t leaving SVSU.
Only seven of the corporation’s 2,700 stores will close, according to a CNN article.
“Quiznos subs will still be there for our students,” he said. “We can’t see the future but for right now, we’re happy and plan to continue our partnership with Quiznos.”
Wolverton also said that Dining Services is always analyzing the state of their brands and how they are being received by students.
He said that Dining Services has a contract with Quiznos and will continue to honor that contract as they do with all their other brands, but evaluation is always going on in the background.
“We are always looking to improve,” Wolverton said. “So much has changed with Dining Services in the past few years, and our philosophy is to always be evaluating if the services (we’re providing) are still wanted or not.”
