Have you heard about the recent rumors that have been circulating? We’re sure you have! Unfortunately, those rumors are true. The word on the street is that Subway, the global food company, is closing some of its locations.
Yes, you read that correctly. Subway, a popular hangout for many, has closed its stores in various locations, even though Subway has become a go-to destination for many due to its unique tastes and variety of options and how Subway offers a seemingly infinite combination of flavors. This decision by Subway has broken the hearts of many Subway fans who used to frequent the restaurant.
Subway has become a household name and expanded its presence worldwide over the years. However, Subway has faced its share of difficulties, like any other business. There have recently been reports of Subway closing stores in specific locations. One of the primary reasons for Subway’s decision to choose this option is the rivalry from other snack companies such as Domino’s. It has devolved into survival of the fittest. Aside from that, the pandemic has been one factor that led to the closure of Subway restaurants.
Now that we’ve covered a few factors that led to the closure of a few Subway locations. Join us on this journey to learn more about this decision. Let us look into why Subway is closing down and the Subway closing stores list. So, what are you holding out for? Let’s get this party started!!
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What happened to Subway?
Subway, the sandwich shop chain, has been shutting down stores across the US lately. They need help with problems like opening too many stores, having old-fashioned operations and decorations, serving the same old menu, and offering those $ 5-foot-long deals that must be added to their profits.
Last year, they closed 571 locations in the US, which is less than the previous years. In 2021 they shut down over 1,000 stores; in 2020, it was a whopping 1,609! Man, that’s a lot of closed doors.
Now, Subway is considering selling the whole shebang for $10 billion. Talk about a big payday!
The pace of closings slowed down a bit in 2022. The number of stores they got now, 20,576, is the lowest since way back in 2005. That’s like going back in time.
Did you know Subway is a private company? They make an 8% cut from the sales of all their stores, even if those joints aren’t making any moolah during slow hours.
So, Subway’s been through some tough times, but they’re trying to figure things out. Let’s see if they can turn this ship around and return on the right track!
Reasons behind Subway shutting down
Hey, did you hear about Subway? They’ve been shutting down stores left and right in the US. It’s all because they got many problems like expanding too much, having outdated stuff, boring menus, and those $ 5-foot-long deals that need to be helping their pockets.
In 2016, they closed over 350 stores, then in 2017, it was over 800, and things got worse in 2021 when they completed over 1,000 stores! And hold on to your sandwich; in 2020, a crazy 1,609 stores had to say bye-bye!
One reason for the closures is that some areas where Subway opened got less crowded over time, so those stores needed more hungry folks coming in. Plus, Subway lets franchises open super close to each other, which is like eating your sandwich. Some stores end up stealing customers from each other!
Rumor has it that Subway might sell the whole shebang for a whopping $10 billion! That’s a lot of dough!
In 2022, the closing spree slowed, with only 571 US locations shut down. Still, they got a total of 20,576 stores now, which is the smallest since 2005. They have to turn things around, man!
Get this, even if Subway stores don’t make money during slow times, the company still takes an 8% cut from sales. Talk about getting a piece of the action!
So, Subway’s been through some tough times, but let’s see if they can fix their sandwich situation and bounce back. Fingers crossed, right?
Which Subway closing stores are closing
Hey, Subway has been shutting down some of their stores in the US lately, but we need to know exactly which ones. They got into trouble because they expanded too much, had old-fashioned stuff, boring menus, and those $ 5-foot-long deals that didn’t help their bank account.
In the past few years, they closed quite a few stores. In 2016, it was over 350, then in 2017, over 800, and things got worse in 2021 when they completed over 1,000 stores! And hold on tight; in 2020, a whopping 1,609 stores had to call it quits.
One reason for the closures could be that some places where Subway opened got less crowded over time. So, fewer people came to those stores. Plus, Subway lets franchises open super close to each other, which is like eating your sandwich. Some stores end up stealing customers from each other!
Rumor has it that Subway might sell the whole shebang for a massive $10 billion! That’s a lot of dough!
In 2022, the closing spree slowed, with only 571 US locations shutting down. They got a total of 20,576 stores now, which is the smallest since 2005. They have to turn things around, man!
Which subway closing stores have closed permanently
So we need specific info on which Subway stores have closed permanently. But let me tell you, Subway has been closing stores in the US for a while now. They went a bit crazy with expanding, had old-fashioned stuff, boring menus, and those $5-footlong deals that didn’t help their money game.
In recent years, they closed quite a bunch of stores. In 2016, it was over 350, then in 2017, over 800, and things got worse in 2021 with over 1,000 closures! And hold your sandwich; in 2020, a jaw-dropping 1,609 stores said goodbye.
Subway closing stores effect
When Subway started closing stores, it had some effects on the company and its customers. Check this out:
First off, changing populations played a role. Some stores had to shut down because the neighborhoods changed over time, and fewer folks were coming in than before. Times vary.
Then we got the self-cannibalization thing going on. Subway lets franchises open way too close to each other, and guess what? They ended up stealing each other’s business. It’s like eating your sandwich! Not a smart move, Subway.
Subway decided to give itself a makeover. They redesigned their logo and spruced up their store interiors. Have you got to keep things fresh, right? And to make customers happy, they even introduced a new loyalty program. Points for sandwiches? Count me in!
Do you know what caused all these closures, though? Subway went too big, too fast. Over-expansion, outdated stuff, boring menus, and those $ 5-foot-long deals that hurt their profits. They had to close over 350 stores in 2016, around 800 in 2017, and a mind-blowing 1,000 in 2021. In 2020, it was a whopping 1,609! That’s like a sandwich apocalypse!
But Subway’s not giving up. They’re focusing on expanding internationally. They want to build up their presence in India, China, Germany, and Mexico. That’s thinking big!
Their goal now is to make more moolah. They want to drive more people to their stores and make their franchise owners happier with more enormous profits. Keep the cash flowin’!
Believe it or not, Subway still reported positive sales for nine quarters in 2023 despite all the closures. They’re still up for the count!
So, Subway’s going through some changes, but they’re staying strong. Let’s see if they can come out on top and satisfy our sandwich cravings.
How is Subway still in business?
Subway has been having some financial difficulties, with stores closing left and right. They went too big, expanded too much, had outdated merchandise, repetitive food options, and the $ 5-foot-long deals that must be fixed.
What we mean is to look at the numbers. They had to close over 350 stores in 2016, around 800 in 2017, and a crazy 1,000 in 2021. And hold onto your sandwich; in 2020, they shut down 1,609 stores! That’s like a sandwich massacre!
Here’s the surprise. Subway isn’t throwing in the towel just yet. They reported positive sales for nine whole quarters in 2023! They’re like the comeback kid, defying the odds.
They’re relying on more than just the US market. They’re thinking global, opening up 1,000 stores in places like India, China, Germany, and Mexico. They’re spreading their sandwich love worldwide!
Subway’s also trying to revamp its ownership model by getting new franchisees on board, but the folks they’re looking for aren’t taking the bait. They have to find the right sandwich partners, you know?
Sure, their market share has decreased, from 6.4 percent in 2013 to 4.7 percent recently, but Subway’s not giving up. They’re hustling to drive more people to their stores and make their franchise owners happier with fatter profits.
Subway stores update 2023
Subway might continue closing stores in 2023. They’ve been at it for a while now, shutting down shops across the US. In 2022 alone, they completed 571 locations, which is a bit less than in previous years, but still, it’s a bunch!
In 2021, they closed over 1,000 stores; in 2020, it was a whopping 1,609! That’s like a sandwich vanishing act!
There could be several reasons for these closures—first, the changing population dynamics. As time passes, some neighborhoods don’t have as many folks coming in as they used to. Times change, you know?
And here’s the kicker: Subway lets franchises open next to each other. It’s like they’re competing against themselves! That can result in what they call “self-cannibalization.” One store steals business from another. Not the most brilliant move, Subway!
But here’s the twist. Despite all these closures, Subway reported positive sales for nine quarters in 2023. They’re staying strong and even saw double-digit growth in global same-store sales. That’s like a sandwich success story!
We have yet to get specific info on whether Subway will close more stores in 2023, but they’re focusing on going international. They want to open 1,000 stores in cool places like India, China, Germany, and Mexico. They’re spreading their sandwich empire!
So, buckle up and see what Subway has in store for us. They might close some more shops or not, but they’re still gaining their appetite for success. Let’s hope they keep serving those tasty subs and keep their business rolling!