This time around, Subway is selling 250,000 footlong passes, and they’re expected “to go very quickly.”
, with 37,000 outlets in more than 100 countries. The Milford, Connecticut-based company has been privately owned since its founding in 1965.. Subway said there is no timetable for a sale or even assurance that a sale will go through. J.P. Morgan is advising the company and will conduct the sale exploration process.
Subway has been losing market share in recent years to fast-growing rivals like Panera and Firehouse Subs, which feature more varied menus and newer stores. Subway took notice, and began a program to modernize its stores in 2017. In 2021, it refreshed its menu and upgraded ingredients; last year it introduced a line of chef-developed sandwiches.
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