As reported in The Wall Street Journal and The Deal Pipeline on Wednesday, Paul, Weiss client Quiznos has concluded a comprehensive restructuring deal with a group of lenders led by hedge fund Avenue Capital Group. All of the company’s second-lien debt will be converted into equity and Avenue Capital will inject $150 million of new equity capital into the quick serve franchise business. The company’s first-lien debt also was restructured as were certain other liabilities. According to Quiznos’ chief executive, Greg MacDonald, “improving our balance sheet and putting our capital structure issues behind us are major steps forward to strengthening the Quiznos brand and our customer experience.”