- January 20, 2021 / 4 min readAccording to Restaurant Business, it is estimated that the US-based QSR chain has closed 2,200 to 2,400 of the chain’s units last year.
Sandwich-chain Subway has closed about 10% of its restaurants in 2020 as the Covid-19 pandemic hit the restaurant business at large.
According to Restaurant Business, it is estimated that the US-based QSR chain has closed 2,200 to 2,400 of the chain’s units last year.
However, it also reported that actual numbers were not available and a comment from Subway noted that the number of permanent closures last year was “lower than your estimate” to the media.
The Milford, Conn.-based sandwich major has been losing the business for years and closed more than 1,000 locations in both 2018 and 2019. In the five years going into 2020, the chain shrunk by 12% as its franchisees closed more than 3,000 units overall, it reported.
Subway has also announced a partnership with the Broad Street Licensing Group (BSLG) in Mexico to create licensed Subway brand products for sale in supermarkets and coffee shops.
The partnership aims to increase the income of the sandwich brand, but no details have been given of how this agreement will work. What is known is that it will cover the categories of food and lifestyle.
The sandwich-chain’s revenue recorded last in 2019 stands at 1,040 crores USD.
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