You remember Quiznos? Their toasted subs were all the rage in the early 2000s and the chain was a big pain in Subway's rear for a bit. But what happened?

Quiznos Subs:  All But Extinct

To say that Quiznos is dead and gone is not exactly accurate. At last count, there were about 150 Quiznos locations in 35 states throughout the US. In Michigan there are just five locations in the Metro Detroit area, assuming the sub-making staff keeps their website up to date.

But 150 current locations is a far cry from the 4,700 shops that dotted the map two decades ago.

What Happened to the Quiznos in Swartz Creek?

Anticipation and speculation about a new Quiznos location in Swartz Creek began building last year as the sub shop was getting ready to open in the former Lorenzo's Pizza location on Miller Road.

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But after a new sign went up on the building, progress came to a halt and the doors to a new toasted sub shop never opened.

Why Have So Many Quiznos Locations Closed?

Between 2007 and 2017, Quiznos' footprint shrank from roughly 4,700 stores to fewer than 400. Today, you'll find just 150 Quiznos locations throughout the US.

Restaurant Business did the homework and found no other example of a restaurant chain that closed so many stores in such a short period of time.

The publication calls the chain's demise a perfect storm of bad decisions and bad luck.

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By 2007, revenue from the chain's locations averaged about $400,000 per year. The high cost of food made profit margins slim. One year before that, a minority interest in the company was sold to CCMP Capital Advisors, a private equity firm. In order for that leveraged buyout to be successful, Quiznos would have had to continue growing. That didn't happen.

Subway Fights Back

In 2006, Subway began offering customers an option to toast their subs and began a wildly successful $5 Footlong campaign.

In an attempt to keep up, Quiznos began a "Million Sub Giveaway" promotion. Many franchise holders refused to honor the free sub coupons because the corporation initially made the individual stores absorb the costs.

When the recession of 2008 hit, franchisees who had been seeing small profit margins were forced to close. Customers facing tough economic times began cutting back on restaurant food, and stores began falling like dominoes.

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