The fast food sandwich franchise, Subway, is in preparations to close down 500 stores in North America, but also planning to open 1,000 more stores in other countries . The company has currently closed 26,000 locations in the US.
The company revealed Wednesday that the expectations to close these stores will happen after building a "revitalizaion plan" according to CNN. After announcing last summer , this plan is going to require franchise owners to invest more into the company's operations . All Subway's stores are franchise owned.
The company plans to get the franchise owners to invest more in the company to revamp stores. Possibly adding self-service kiosks, more comfortable seating, and Wifi/USB charging ports.
"Looking out over the next decade, we anticipate having a slightly smaller, but more profitable footprint in North America and a significantly larger footprint in the rest of the world," the company said on Wednesday. According to CNN, the company announced back in February that it's building loyalty programs to win back customers and "stem slumping prices."