Struggling Subway closed more than 1,000 restaurants in 2018
By: Josh K.
Struggling fast food franchise Subway closed more than double the number of restaurants in 2018 than it had forecast, the company revealed in a regulatory filing.
An annual financial disclosure statement filed in Wisconsin Monday says a net 1,108 restaurants closed nationally in 2018.
Subway had forecast that about 500 would close, according to media reports.
That 1,108 is higher than the prior record of 866 net closures in 2017 and 357 in 2016.
Subway overall has 24,798 US locations, down from 27,129 at the end of 2016.
The number of New York state restaurants fell from 1,222 in 2016 to 1,016.
America’s biggest restaurant chain has struggled in recent years with declining same-store sales and ineffective advertising.
