The Denver-based sandwich chain filed for Chapter 11 bankruptcy protection to reduce its debt after losing ground to competitors.
The company's restructuring plan, which includes cutting its debt by more than $400 million and increasing its financial flexibility, had already been approved by its creditors when it filed for bankruptcy.
Quiznos said Monday that the U.S. Bankruptcy Court in Delaware confirmed the company's plan. The company said it is nearing the completion of its financial restructuring process.
The company only owns and operates seven of the nearly 2,100 Quiznos restaurants nationwide. The rest are operated by franchisees and aren't part of the bankruptcy proceedings.
MORE HBJ HEADLINES
Watchdog: Too few air traffic controllers where needed most A $32B tally, but Boeing's 787 costs don't bother Wall Street Czech airline to buy 16 Boeing 737 Max jets Lockheed Martin separating unit, combining it with Leidos Apple forecasts rare sales drop Obama administration loosens Cuba embargo with new measures