The year of 2018 is proving to be a difficult year for retailers of all forms or fashions. Just a few months ago, Toys R Us started the process of closing many of its stores after filing for bankruptcy. Other major retailers such as Best Buy, Sam’s Club, K-Mart, Gap, Banana Republic, Michael Kors and Abercrombie and Fitch have also closed stores. With Subway joining in the exodus, the list just keeps getting longer.
Earlier this week Subway announced that it plans to close down 500 of its restaurants in the United States. It was reported that Subway has been struggling to increase sales. This is because lately Subway has had tons competition ranging from fast food chains such as McDonalds, to supermarkets. They have even had competition from gas stations.
However, just because Subway is closing 500 of their sandwich shops, doesn’t mean that they are doomed. In fact, the restaurant chain is spending the year focusing on expanding internationally. Plus, there are still more than 25,000 Subway locations across the United States, so don’t panic – you can still get your $5 footlong, but it may have to be from a different Subway location.