Subway calls ‘emergency’ meeting with franchisees as sales plummet

Last time I had Smashburger (and it was very tasty) the total for my daughter and I - 42$
Yup, the one in Fort Mill. No ice cream, no extra sides, no large. I had a double something or other, she had a brisket burger. Both had fries and a sody pop.

Culvers is just as good, and about $13/combo. $16 if you get a premium side and a custard mixer. Also has a drive thru. Our Smashb does not. It's in this horrible crowded little area called Kingsley. You gotta be a King to want to navigate that cluster of vehicle hades.
 
I want to start a Reuben chain.

Reuben
Pastrami
Fries
Coleslaw

Drinks

Never mind.................
We have a place like that here - called East Bay Deli - in reference to their original on East Bay st in Charleston.

They raised their prices too much also - so SC stopped going a while back.

Few saturdays ago wife wanted a piece of cake. They have really good cake, giant slices, who cares how much it cost. So we went for cake. One piece of cake, two waters.

Saturday afternoon. Place was dead. Guess others stopped going too.
 
Yup, the one in Fort Mill. No ice cream, no extra sides, no large. I had a double something or other, she had a brisket burger. Both had fries and a sody pop.

Culvers is just as good, and about $13/combo. $16 if you get a premium side and a custard mixer. Also has a drive thru. Our Smashb does not. It's in this horrible crowded little area called Kingsley. You gotta be a King to want to navigate that cluster of vehicle hades.
I wouldn't really say Culvers is in the same category - but Five Guys is too expensive now. Our local one closed. Another place we stopped going to a couple years ago. I guess everyone else too.

Whats interesting - our five guys have gone way down hill - the burgers got smaller and so did the fried. The one in Forest Acres / Columbia was still good as ever last I was there - which was a few months ago. Its expensive too, but at least a large fries fills half the bag and the burgers are full size.
 
We have a place like that here - called East Bay Deli - in reference to their original on East Bay st in Charleston.

They raised their prices too much also - so SC stopped going a while back.

Few saturdays ago wife wanted a piece of cake. They have really good cake, giant slices, who cares how much it cost. So we went for cake. One piece of cake, two waters.

Saturday afternoon. Place was dead. Guess others stopped going too.
How much did the cake cost!?!

That IS a question.
 
How much did the cake cost!?!

That IS a question.
For you I looked it up online. $10.79 + tax. They have a lot more selection in person, but the price looks about right.

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Subway, which owns none of its restaurants and makes its money through 8% royalty fees it collects from franchisees, now faces interest payments on debt following its sale to Roark and can’t afford to have declining earnings, sources said.

Would someone explain to me how/why they have interest payments on debt after a sale?
 
Would someone explain to me how/why they have interest payments on debt after a sale?
Subway the company - was purchased by Rourk Capital Management (a venture capital firm).

Subway needs to pay their interest payments on their debt. The debt would stay with the subway company - not stay with whomever owned Subway before.

So all there saying is that Subway has to pay an interest payment, but given their source of revenue is 8% royalty fees which are presumably down, they might have trouble paying. Its poorly worded. The fact that their owned by Rourk really doesn't matter to the sentence. I guess there using the sale as a point in time to measure from?
 
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Subway the company - was purchased by Rourk Capital Management (a venture capitalist firm).

Subway needs to pay their interest payments on their debt. The debt would stay with the subway company - not stay with whomever owned Subway before.

So all there saying is that Subway has to pay an interest payment, but given their source of revenue is 8% royalty fees which are presumably down, they might have trouble paying. Its poorly worded. The fact that their owned by Rourk really doesn't matter to the sentence. I guess there using the sale as a point in time to measure from?
Gotcha. I was unsure as I've read that sometimes corporations are purchased, then saddled with the debt of purchasing entity.


So evidently they had accrued debt somehow prior to their sale?
 
Gotcha. I was unsure as I've read that sometimes corporations are purchased, then saddled with the debt of purchasing entity.


So evidently they had accrued debt somehow prior to their sale?
Debt was used to purchase Subway from the prior owners.

A supplemental example is Red Lobster, a consistently profitable restaurant that owned many of its locations.

Red Lobster was purchased by a private equity firm. The private equity firm sold all the red lobster locations to the private equity holding company., ad made red lobster pay premium rent for the locations every month.

Red lobster was sold again, primarily to a Thailand based shrimp producer. After the shrimp producer purchased red lobster, red lobster was required to only buy shrimp from their new owners, paying significantly more for shrimp.

The all you can eat shrimp deal that bankrupted red lobster, actually made red lobster's holding company zillions in profit.

That is how the game is played.
 
Beginning August 26, Subway will sell any footlong sandwich for $6.99 — a steep discount considering that some footlongs can cost as much as $14 in some cities. It’s the privately held chain’s latest attempt at luring back customers who are balking at rising fast food prices and spending less when they do go out.

The deal has a catch: The offer is only available via its app or website with the code “699FL” and ends on September 8.
 
Beginning August 26, Subway will sell any footlong sandwich for $6.99 — a steep discount considering that some footlongs can cost as much as $14 in some cities. It’s the privately held chain’s latest attempt at luring back customers who are balking at rising fast food prices and spending less when they do go out.

The deal has a catch: The offer is only available via its app or website with the code “699FL” and ends on September 8.
That'll get me through the Labor Day weekend. I have a road trip planned! 🤠
 
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