This beloved sandwich chain tries to save its closing locations
They cut the number of stores placed to close in two!
The coronavirus pandemic has hit a lotThe restaurants of the chain are particularly difficult. With dining roomforced to close, many have not seen enough business. Some hadCloses locations. A fewdeposited for bankruptcy.
A sandwich restaurant specializes in the type of customizable sandwiches that are made just in front of you have seen sales fall when they needed to limit restaurants to perform and deliver only. They recently announced the closure of 100 locations. However, they seem to fight.
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Although 16 locations are closed for good, the total number will be less than 50, depending onNews from the Nation's restaurant. There were speculation they would do itBankruptcy folder back in JuneBut talks with homeowners resulted in 187 lease negotiations, the company said in a statement. At that time, they also hired a prosecutor of restriction consultants and bankruptcy. They also let him know that they did not have much cash.
"Our team quickly adapted to the new operational environment," said Potbelly Chief Financial Officer Stebe Cirulis said. "We have preserved money, our strong off-site platform, innovated with new offers, reset our real estate portfolio and improves the safety of our stores for employees and customers."
In March, 36 locations were closed and 25% salary reductions were placed on executive and business employees. Sales continued to fall in the summer, even if the company hired a newDirector of Operations. But while sales of the same reserve fell by nearly 70% in March, in June, they were only 20%.
It will only make less than 50 locations. However, other restaurants will not be so lucky. Ruby Tuesday isFinal down 150 locations. Pizza California Cuisinecould be close to the bankruptcy deposit, which will place the status of more than 250 pupil locations. AndHundreds of McDonald locations Stop also.
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