4.6 • 716 Ratings
🗓️ 4 September 2023
⏱️ 6 minutes
🧾️ Download transcript
Today is Monday, September 4, and we're looking at Subway vs. Jimmy John's.
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1:06.5 | The United States From Wondery, I'm David Brown, and this is Business Wars Daily on this Monday, September 4th. Hope you're enjoying your Labor Day. |
1:08.3 | Well, we promised to keep you updated, and now the big update has |
1:11.6 | arrived. Subway, the beleaguered sandwich chain that struggled recently to stay relevant, officially |
1:16.7 | has a buyer. Last week, the chain said it would be bought by Rourke Capital, a private equity firm. |
1:23.6 | Rourke was reportedly offering $9.6 billion for the sandwich chain, according to the Wall Street Journal, |
1:29.6 | though terms of the deal were not disclosed. Now, you may remember that the past several years have held |
1:34.3 | high highs and low lows for Subway. In the decades leading up to the early 2000s, the chain was |
1:40.2 | rapidly expanding and becoming the world's largest fast food chain by number of locations. |
1:45.2 | But in 2015, Subway got tangled up in a PR snafu with its spokesman Jared Fogel. |
1:51.1 | Meanwhile, sales were declining and the brand was struggling to find franchisees. |
1:56.2 | It appeared that Subway, once the king of sandwiches, had fallen to the bottom of the heap. So how does one get back |
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