Subway, the restaurant chain with the most locations in the US, has sold $3.35 billion of asset-backed bonds to help fund its buyout by Roark Capital Group, in what is the largest securitization of its kind on record. The sandwich maker priced the largest portion of its whole business securitization — where a company pledges … Read more
Subway plans to hire 40,000 workers in May, but that may not be easy. Subway closed 1500 stores in 2020 and franchisees say returning to normal hours is difficult due to a lack of workers. Other restaurant chains are holding hiring events, adding extra perks, and, in some cases, raising wages to find staff. See … Read more
Franchisees for Pizza Hut, IHOP, and Subway have already filed for bankruptcy. McDonald’s internally warned franchisees that they may have to downsize or sell locations. “Every franchisee is a small business, and they had to close up, and they’re sucking wind,” said restaurant industry investor Roger Lipton. “They’re hemorrhaging.” Visit Business Insider’s homepage for more … Read more