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AP National Business

Subway says it’s exploring selling the sandwich company

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Published 2:11 PM

By DEE-ANN DURBIN
AP Business Writer

Subway says it is exploring a possible sale of the sandwich company. The company has been privately owned since its founding in 1965. It’s now one of the world’s largest restaurant chains, with 37,000 outlets in more than 100 countries. In a statement posted on its website, Connecticut-based Subway said there is no timetable for a sale or even assurance that it will go through. J.P. Morgan is advising the company and will conduct the sale exploration process. Subway has spent several years trying to modernize its stores and upgrade its ingredients. The brand says that paid off in record sales last year.

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