Quiznos Turns To Former Friendly's Exec

Friday, February 24, 2012

Quiznos has brought in the former head of Friendly's, a restaurant restructuring veteran, to be executive chairman.

Getty The sandwich chain last month reached a deal with debt holders that gave control to Avenue Capital Group, helping the "pioneer of the toasted sandwich" avoid filing for bankruptcy.

Tuesday, it named Harsha V. Agadi as executive chairman. Agadi had been chairman and CEO of Friendly's, the hamburger and ice-cream chain that filed for bankruptcy protection in October. Agadi was hired in 2010 to help that company turn itself around, but said when it filed for protection its progress wasn't enough. The company emerged from bankruptcy in January.

Agadi made some headlines when he billed that company for $243,000 in expenses, which was reported in bankruptcy filings.

Agadi left Friendly's after it emerged from bankruptcy earlier this month.

Quiznos also named several other fast-food veterans to its board Tuesday, including Claire Babrowski, a former executive at Toys R Us, RadiShack and McDonalds; Doug Benham, a board member at Sonic and O'Charley's and once CEO of Arby's Restaurant; and Kip Knight, once a marketing head at KFC International and Taco Bell, as well as Procter & Gamble, eBay and PepsiCo.

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