A MAJOR high street fast food chain could be sold, affecting over two thousand locations in the UK.
Subway has announced that it is considering selling the company.
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The sandwich chain, which has 2,273 locations in the UK, said that shareholders were exploring the possibility of a sale but no plans have been made.
It comes as the company has closed more than 1,000 sites worldwide since 2021.
J.P. Morgan is advising the company and is conducting the sale exploration process.
In a statement online Subway said: “The management team remains committed to the future and will continue to execute against its multi-year transformation journey, which includes a focus on menu innovation, modernization of restaurants and improvements to its overall guest experience.
“The company recently announced another record-setting year, ending 2022 exceeding global sales projections and achieving eight consecutive quarters of positive same-store sales growth.”
It also said it won’t be making any further comment.
Subway restaurants are owned and operated by Subway franchisees in over 100 countries with nearly 37,000 locations.
The chain has 1,865 branches in England, 99 in Northern Ireland, 202 in Scotland and 107 in Wales.
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It’s not yet confirmed what would happen to branches if a sale is agreed upon.
Subway recently added a new sandwich to its UK menu.
The new Teriyaki Steak Subs come in two different versions, one is a plant based and the other is regular.
To celebrate the launch the chain released a “micro-sub” measuring less than an inch.
The miniscule sandwich is more than 12 times smaller than the life-size footlong sub.
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