Is This Major Restaurant Chain Shutting Down Locations in Canada?
When you want fast food and settle for something healthy instead, it’s true that this place is an absolute go-to.
Oh, come on, we've all done it. We’re all fully aware that this fast food chain’s sandwich concoctions are epic, sometimes fresh, but not always healthy.
You might just go because you’re hungry and a Subway restaurant is always closeby.
But that may not be the case for much longer.
According to Bloomberg, the sandwich chain is planning to shut down 500 more of its U.S. shops this year. In 2017, more than 800 stores shuttered. Subway also closed shops in 2016.
The chain is focused on “growing the business” and “strengthening market share” according to Bloomberg.
Though Subway was founded more than 50 years ago, it might be failing to boost sales in the U.S.- mostly because new and modern chains are emerging, according to Bloomberg.
That could mean that the chain is failing to compete with newer chains.
In addition, supermarkets and gas stations that offer grab-and-go options also pose as competitors, thus pressuring Subway to be faster and more convenient.
According to Bloomberg, one-third of Subway’s 25,908 shops in the U.S. are no longer profitable.
What does this mean for Subway in Canada?
We might see fewer Subway shops, too.
But the remaining shops might get better looking. Think of it is as Subway 2.0. You can also expect a sleeker look and touch-screen ordering kiosks.
This is all part of an “aggresive revitalization plan” according to Bloomberg. That includes shutting down and relocating many stores across North America.
For now in Canada, Subway is planning to focus on its loyalty reward system, which offers $2 discounts and free items and is available in most Canadian locations.
But this major restaurant chain is not fizzling and fading globally just yet.
Outside of North America, Subway is planning to open more than 1,000 new restaurants this year. It will focus on growth in countries such as the U.K., Germany, South Korea, India, China and Mexico.
Let's just hope Subway doesn't go away too soon. Where else would we go for a sandwich that's a little junky?