Can being part of a larger company fix what ails Quiznos?
Tim Casey thinks so.
The CEO of Rego Restaurant Group is the guest on this week’s edition of the Restaurant Business podcast "A Deeper Dive."
The private equity firm High Bluff Capital bought Quiznos and Taco Del Mar last year and formed Rego Restaurant Group, with plans to make more purchases. Casey was hired earlier this year to oversee the company.
But in Quiznos, he takes on one of the most challenging situations in the restaurant business. The sub chain has suffered a collapse on a scale that is unprecedented in the restaurant business. It has less than 400 locations in the U.S. right now. In 2007 it had nearly 5,000. The chain suffered from an ugly combination of weak operators, a bad business model, way too much debt and a really big competitor in Subway.
Casey explains what it will take to fix the chain, and why the multi-brand model will help turn it around, and any other chain the company plans to acquire.