Operations

Subway extends sale bidding deadline

monticellllo - stock.adobe.com

July 13, 2023

After failing to achieve a $10 billion bid for its business Subway is extending the sales bid deadline into August.

The privately-held chain, founded in 1965, is reportedly drawing attention from some new bidders, according to a New York Post report which cited sources close to the situation.

Subway, founded in 1965, has pushed back bidding deadlines yet again in its auction.

"The price is not meeting their valuations," a lending source told the Post.

The news comes a week after Subway announced a brand-new approach to meat slicing using $6,000 slicers rather than using pre-packaged meat though steak, chicken and cheese will still arrive as prepared items for locations.

First news of a sale was reported by the Wall Street Journal in January.