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Subway reportedly closed 10% of its stores last year as the fast-food chain struggles with pandemic restrictions and slumping sales

Posted On: Feb 25, 2021   |   Posted By: Business Insider

Subway reportedly closed 10% of its stores last year as the fast-food chain struggles with pandemic restrictions and slumping sales

Summary List Placement Subway, the biggest fast-food chain in the world, lost about 10% of its restaurants in 2020, Restaurant Business reported Friday.
The publication reported that 2,200 to 2,400 Subway restaurants closed last year during the pandemic.
The closures represent a significant impact on individual business owners, as the company does not operate its own restaurants, but rather relies on franchises.
A Subway spokesperson did not immediately respond to a request from Insider seeking confirmation of the closures. But in an emailed statement to Restaurant Business, the Connecticut-based company disputed the number of storefronts that shuttered.
"We can tell you that the figure you provided is not accurate," the company said. "The number of permanent closures in 2020 is lower than your estimate, as there are temporary closures due to COVID."
Like many restaurants and chains, Subway saw a decline in sales at the onset of the coronavirus pandemic due to stay-home orders and restrictions on in-person...

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