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Quiznos, the sandwich-shop chain facing default on a loan covenant, hired Paul Weiss Rifkind Wharton & Garrison LLP and Moelis & Co. as lawyers and investment bankers to assist in negotiating with lenders, said a person familiar with the matter.

The Denver-based company said in an e-mailed statement that it hired advisers to help “develop a proper financial structure for the company.”

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