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That month, it announced five new agreements with multi-unit operators to condense and transfer more than 230 existing restaurants. "There is strong interest in growth opportunities with Subway from multi-unit operators," Subway said in a statement to Reuters for this story. Klein, the franchise attorney, said that since 2022, his firm examined three multi-unit Subway deals on behalf of clients interested in investing in the chain for the first time. Of the 100 largest multi-unit U.S. restaurant franchisees by revenue in 2022, none had a Subway in their portfolio, according to a ranking by Franchise Times magazine. Instead, top franchisees owned hundreds of Wendy's (WEN.O), Yum Brands' (YUM.N) Pizza Hut and Taco Bell, Restaurant Brands' Burger King, Dine Brands' (DIN.N) Applebee's and other chains.

Persons: Justin Klein, John Gordon, Klein, it's, Gordon, Burger, Alicia Miller, Hilary Russ, Matthew Lewis Organizations: YORK, Subway, Reuters, QSR Magazine, Restaurant Brands International Inc, Times, Yum Brands, Bell, Restaurant Brands, Catalyst Insight, Thomson Locations: United States, U.S, Miami, Jersey, New York, Nevada, New Mexico

☆ Subway's US restaurant locations have hit their lowest level since 2005 as the company looks to sell – report
▼ + stars: | 2023-05-05 | by ( Ben Tobin | ) www.businessinsider.com time to read: +2 min

Subway now has its lowest number of US restaurants since 2005, according to Restaurant Business. The company reportedly closed 571 restaurants in 2022 and operates more than 20,000 nationwide. But more than 6,500 Subway restaurants have closed since 2016, or nearly one of every four restaurants in the country, according to Restaurant Business. Multiple media outlets have reported that the company wants a sale that values the chain at $10 billion. Despite previous years of slumping sales and closing stores, Subway, a privately held company, has recently gained some momentum.

☆ Subway comes up with $5 billion debt plan to clinch $10 billion-plus sale, sources say
▼ + stars: | 2023-05-01 | by ( ) www.cnbc.com time to read: +4 min

This is weighing on how much the private equity firms are offering to buy companies. So far, bids for Subway have ranged between $8.5 billion and $10 billion, one of the sources said. Barclays, a major player in the market for WBS financing, is one of the banks in discussions about long-term financing, the sources said. JPMorgan's financing package also offers the option of a preferred equity component with a roughly 15% interest rate, the sources said. This is a more expensive route that private equity firms may not opt for, three of the sources added.

This is weighing on how much the private equity firms are offering to buy companies. So far, bids for Subway have ranged between $8.5 billion and $10 billion, one of the sources said. This is a more expensive route that private equity firms may not opt for, three of the sources added. To be sure, Subway is allowing bidders to use any financing route they want, as long as they can show they can secure committed financing. TPG and Bain were part of a group that owned Burger King when John Chidsey, who is now Subway's CEO, headed that burger fast-food restaurant chain.

☆ Subway reports double-digit quarterly sales growth as sandwich chain seeks buyer
▼ + stars: | 2023-04-24 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

In this photo illustration, a Subway sandwich is seen on a table at a Subway restaurant on January 12, 2023 in Austin, Texas. Sandwich chain Subway reported double-digit same-store sales growth in the first quarter, showing its turnaround taking hold as the company seeks to sell itself. The restaurant company is reportedly seeking a valuation of at least $10 billion, and the auction is heading into its second round, according to The Wall Street Journal. Globally, Subway's same-store sales climbed 12.1%, and its digital sales increased 11.4%. In North America, same-store sales grew 11.7%, and digital sales soared 21.2%.

☆ Subway is making an epic comeback at the best possible time
▼ + stars: | 2023-04-24 | by ( Gloria Dawson | ) www.businessinsider.com time to read: +3 min

Subway's global same-store sales surged by more than 12% in the most recent quarter, the chain said. In the most recent quarter, global same-store sales surged by more than 12%, the chain said. He told Restaurant Business that Subway currently has 16,500 stores overseas but believes it should have 40,000 or even 60,000. Subway's recent menu updates have helped spur growth. In February, Subway's app was the third-most downloaded fast-food app in the US, logging 1 million downloads, Apptopia said in an article published in QSR Magazine.

☆ Analysis: Italian first! Meloni's nationalists defend cultural identity at risk of irking EU
▼ + stars: | 2023-04-12 | by ( Angelo Amante | ) www.reuters.com time to read: +5 min

[1/2] General view of the Colosseum next to a subway's construction sites in Rome, Italy, February 16, 2023. Almost six months after taking office, Prime Minister Giorgia Meloni's right-wing government is pushing out bills that promise to promote national identity, defend the traditional family, protect cultural heritage and hold back migrants. Recent proposals include a bill to safeguard the Italian language and a ban on lab-grown food. "Italian mines are made up of culture, gastronomy, language, arts, fashion, history, archaeology and monuments. "Identity messages are meant to tell the electorate that Brothers of Italy will not give up its line," analyst Panarari said.

☆ Subway is giving out free Cadbury Creme Egg sandwiches in the UK ahead of Easter weekend — and it is surprisingly not a late April Fools' joke
▼ + stars: | 2023-04-06 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +2 min

Subway is debuting a new sandwich that will be given out at four UK locations on Good Friday. The sandwich features the chain's Italian bread, with melted Cadbury Creme Eggs inside. The sandwich chain assured Insider the creation is not a late April Fools' Day joke, as some have speculated — or hoped. "Our Italian White Bread and Cadbury Creme Eggs make the most flavorsome combination — a perfect seasonal treat!" "The highly-anticipated Creme Egg season is in full swing and we're so excited to launch this innovative product with Subway as a final hoorah of the season," Cadbury Creme Egg brand executive Charlotte Docker said.

☆ Subway will sell 50% discounts for its footlong sandwiches to app users — and they could sell out within hours
▼ + stars: | 2023-03-17 | by ( Nancy Luna | ) www.businessinsider.com time to read: +3 min

Subway is bringing back its Footlong Pass subscription program. Passes will be available on the chain's app, which has seen a surge in downloads lately, as well as online. And, they're about to surge even more as the chain plans to bring back its wildly popular $15 Footlong Pass deal. One million Subway app downloads in a monthAccording to app intelligence firm Apptopia, Subway's menu overhaul, and recent promotions are causing a surge in app downloads. McDonald's (3.2 million downloads) and Starbucks (1.3 million downloads) came in at No.

☆ Rome hopes to reverse decline and relive La Dolce Vita
▼ + stars: | 2023-03-17 | by ( Giselda Vagnoni | ) www.reuters.com time to read: +6 min

[1/5] General view of the Colosseum next to a subway's construction sites in Rome, Italy, February 16, 2023. However, flailing public services can make La Dolce Vita seem a remote dream, for both visitors and residents alike. "It is the biggest investment plan Rome has ever had," Gualtieri told Reuters. "Milan was turned around by the EXPO and has become a city capable of attracting capital from all over the world. Rome is an incredible place and second to none," Luca Luciani, head of BAI Communications Italia, told Reuters.

☆ New documentary reveals how Jared Fogle led a 'double life' as a 'puppet master' who committed child sex acts while pitching sandwiches for Subway
▼ + stars: | 2023-03-05 | by ( Nancy Luna | ) www.businessinsider.com time to read: +9 min

Jared Fogle became Subway's pitchman after losing 245 pounds by mostly eating the chain's subs. He filmed over 300 ads for Subway before pleading guilty to child sex acts in 2015. Jared Fogle became a pop-culture icon after being tapped as the face of Subway in 2000. A random tip in 2015 finally exposed him as a child sex predator. Here are the most revealing highlights:Jared Fogle led a "double life," according to a documentary about his child sex crimes.

Subway introduced the plant-based steak in January. It says the teriyaki-steak subs will be on the menu until March 7, and after that customers will be able to order plant-based steak and add the teriyaki sauce to it, but it will no longer appear as a set item on the menu. Grace Dean/Insider

☆ Take a look inside Subway's new corporate HQ, where it has a mock restaurant to test out new menu items
▼ + stars: | 2023-03-03 | by ( Grace Dean | ) www.businessinsider.com time to read: 1 min

Subway announced on Thursday that it has opened its new corporate headquarters in Miami, just a few minutes' drive from the Florida city's international airport. The exterior of Subway's new Miami HQ. Eileen Escarda via SubwayNews of the opening had been circling since at least 2020, and marks Subway's transformation into a dual-headquartered business. The sandwich chain announced the relocation in 2021, but had up until now shared few details.

☆ A new documentary on Subway and Jared Fogle couldn't come at a worse time
▼ + stars: | 2023-02-25 | by ( Nancy Luna | ) www.businessinsider.com time to read: +5 min

Jared Fogle became Subway's pitchman after losing 245 pounds by mostly eating the chain's subs. A Fogle documentary airing in March is bad timing for Subway as it looks for a buyer, analysts say. Yet, a ghost from Subway's past, Jared Fogle, is returning to haunt America's largest sub chain. The new documentary series promises to reveal the "rise and fall" of the former Subway pitchman who "masqueraded as a national hero while hiding a horrific side." Are you a Subway insider with insight to share?

☆ How Jared Fogle went from Subway star to shunned spokesman: New documentary details fall from grace, as sandwich chain eyes potential sale
▼ + stars: | 2023-02-15 | by ( Jordan Hart | ) www.businessinsider.com time to read: +5 min

Jared Fogle was known as Subway's spokesperson up until 2015 when his home was raided by the FBI. A new documentary of Fogle is coming in March, as Subway teases a possible sale of the company. As Subway considers a potential sale of its more than $10 billion restaurant chain, and with a documentary on Fogle set to air in just a few weeks, here's how he went from Subway celebrity to shunned spokesman. Jared Fogle. APA Subway spokesman is bornIn a 2004 interview with CBS, Jared said he weighed 425 pounds before using Subway sandwiches to aid in his over 200-pound weight loss.

☆ Subway says it's exploring a sale
▼ + stars: | 2023-02-14 | by ( Samantha Delouya | Nancy Luna | ) www.businessinsider.com time to read: +2 min

Subway said Tuesday that it is exploring a sale of the chain. Last month the WSJ said Subway was up for sale in a deal that could fetch more than $10 billion. "There is no indication of timing or assurance that a sale will occur," the sandwich chain said in a brief statement. Last month, the Wall Street Journal said Subway was exploring a sale that could value the sandwich chain at more than $10 billion. In late January, Subway's late cofounder, Buck, gave his 50% stake in Subway to his foundation, where his two sons work.

☆ McDonald's is opening 1,900 restaurants in 2023. Here's what it costs to open a McDonald's restaurant
▼ + stars: | 2023-02-07 | by ( Hayley Peterson | Nancy Luna | ) www.businessinsider.com time to read: +5 min

McDonald's franchise fee is $45,000. But McDonald's restaurants posted average domestic sales of $4 million in 2021, according to the chain's franchise disclosure report for 2022. Initial investment costs for running a McDonald's range from $1.4 million and $2.5 million — including the franchise fee. The rent for most new McDonald's restaurants ranges from 10% of total gross sales to $15.75% for new restaurants that have opened since January 1, 2020. But by mid-December 2022, McDonald's had grown to 13,666 US restaurants, according to preliminary store count data obtained from market research firm Datassential.

☆ Sandwich chain Subway's sales climb as turnaround takes hold ahead of potential sale
▼ + stars: | 2023-02-02 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

Subway said its same-store sales climbed 9.2% in 2022, signaling the sandwich chain's turnaround is taking hold as it reportedly explores a sale. However, Subway has recently shared periodic sales updates as it has undertaken a turnaround. Subway has seen eight consecutive quarters of sales growth, and digital sales have more than tripled since 2019, the company said in a release. Its North American locations' same-store sales jumped 7.8% in 2022, breaking decade-old average weekly sales records, according to Subway. The trend reverses years of sales declines for the once-ubiquitous sandwich chain, which was at one time the largest U.S. restaurant company by number of locations.

☆ Late Subway co-founder's stake donated in potential tax shield
▼ + stars: | 2023-02-01 | by ( Abigail Summerville | ) www.reuters.com time to read: +2 min

It will shield both the estate and the foundation from a big tax bill were Subway to be sold. Reuters reported in January that Subway was exploring a sale with the help of a financial adviser. A Subway spokesperson said the company does not comment on ownership structure and business plans. Buck, who was a nuclear physicist, and co-founder Fred DeLuca started Subway in 1965 after DeLuca asked Buck for advice on how to pay for his college tuition. Reporting by Abigail Summerville in New York; Editing by Anirban Sen and Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

☆ Subway's late cofounder will give half the company to a charity where his 2 sons work, amid reports the chain is considering a sale
▼ + stars: | 2023-01-31 | by ( Nancy Luna | ) www.businessinsider.com time to read: +3 min

Subway's last surviving founder, Peter Buck, died in 2021. Buck, who died last year, left his 50% stake in the chain to the Peter and Carmen Lucia Buck Foundation, according to a Tuesday announcement by the charity. Peter Buck was 34 when he partnered with a 17-year-old family friend, Fred DeLuca, to open a submarine sandwich shop. In 2020, the chain laid off hundreds of corporate staff to cut costs amid rumors of a company sale. Are you a Subway insider with insight to share?

☆ Subway is reportedly looking to put itself up for sale in a deal that could exceed $10 billion
▼ + stars: | 2023-01-12 | by ( Samantha Delouya | ) www.businessinsider.com time to read: +2 min

Subway is looking to put itself up for sale in a deal that could fetch more than $10 billion, according to the WSJ. The reported decision comes a little more than a year after the company's last surviving founder died in 2021. Subway is undergoing a revamp under CEO John Chidsey after facing slumping sales and store closures. The sandwich chain is reportedly looking to court corporate buyers or private-equity companies but is still early in the process. In a statement to Insider, a Subway spokesperson said: "As a privately held company, we don't comment on ownership structure and business plans.

☆ Fast-food workers are gaining millions of TikTok followers with on-the-job videos, but the trend has muddied the relationship between brands, creators, and consumers
▼ + stars: | 2021-07-24 | by ( Amelia Tait | ) www.businessinsider.com time to read: +7 min

In the last year, Mirg has accumulated over 4.4 million TikTok followers and 1.8 million YouTube followers who watch him cutting bread, arranging cheese, and tossing cucumber slices into their container. POV videos from service workers have become a huge TikTok trendNumerous fast-food workers have built followings of millions by filming themselves at work. 24-year-old Dylan Lemay began TikToking at Cold Stone Creamery in 2020 and now has 9.8 million followers. Starbucks employee Maya Smith has gained 2.1 million followers making videos mixing drinks. While there is an appetite for this format of content, advertising legislations (and perhaps some store managers) have yet to catch up.

☆ Here's what it costs to open a McDonald's restaurant
▼ + stars: | 2016-08-04 | by ( Hayley Peterson | Nancy Luna | ) www.businessinsider.com time to read: +4 min

McDonald's restaurants posted average domestic sales of $4 million in 2021, according to the chain's franchise disclosure report for 2022. Initial investment costs for running a McDonald's range from $1.4 million and $2.5 million — including a $45,000 franchise fee. Total costs to launch a franchised Chick-fil-A restaurant range from $219,055 to $2,912,697, according to the chain's 2022 franchise disclosure report. Chick-fil-A restaurants, which are only open six days a week, average more than $8 million in sales annually among non-mall locations. But by mid-December 2022, McDonald's had grown to 13,666 US restaurants, according to preliminary store count data obtained from market research firm Datassential.

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