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Subway Hires Former Burger King Executive As CEO To Revitalize Sandwich Chain Subway Hires Former Burger King Executive As CEO To Revitalize Sandwich Chain
Subway Hires Former Burger King Executive As CEO To Revitalize Sandwich Chain The nation's largest fast-food chain has picked a former Burger King executive as its new CEO. Jonathan Fitzpatrick will become Subway's chief executive on Monday, July 28, the sandwich company announced in a news release on Monday, July 21. He'll take the role left by John Chidsey, who retired in late 2024 after leading Subway through a $9.6 billion sale to Roark Capital and overseeing several years of steep US restaurant closings. Fitzpatrick was most recently the CEO and president of Driven Brands, an automotive services provider also owned by Roark. "I'm honored to lead this …

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by Chris Spiker
Business
Trendy Hot Chicken Chain Started In Parking Lot Sold After Passing $600M Sales Mark Trendy Hot Chicken Chain Started In Parking Lot Sold After Passing $600M Sales Mark
Trendy Hot Chicken Chain Started In Parking Lot Sold After Passing $600M Sales Mark A private equity giant is buying a hot chicken restaurant chain that grew from a parking lot to an international brand that's very popular on TikTok. Roark Capital has purchased a majority stake in Dave's Hot Chicken, the restaurant said in a news release on Monday, June 2. Dave's said the sale will help the Los Angeles-based chain grow to more than 400 restaurants worldwide by the end of 2025. The company said it'll remain committed to delivering an "exceptional experience" for customers, employees, and franchise partners. "This is one of the great entrepreneurial journeys …

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by Chris Spiker
Business
Skechers Sold In $11B Deal As Trump's Tariffs Raise Worries For Shoemakers Skechers Sold In $11B Deal As Trump's Tariffs Raise Worries For Shoemakers
Skechers Sold In $11B Deal As Trump's Tariffs Raise Worries For Shoemakers A private equity firm will purchase Skechers as President Donald Trump's sweeping tariffs create growing uncertainty for US footwear companies. 3G Capital will buy Skechers for what could be worth up to $11 billion, the shoemaker announced in a news release on Monday, May 5. Once finalized, the deal will make Skechers private and it'll be delisted from the New York Stock Exchange. Skechers, which is the third-largest footwear brand globally behind Nike and Adidas, will continue to be led by CEO Robert Greenberg and president Michael Greenberg. The company's headquarters will remai…

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by Chris Spiker
Business
Subway Closing Hundreds Of Restaurants Yearly, Aims For 'Smart Growth' Amid Brand Refresh Subway Closing Hundreds Of Restaurants Yearly, Aims For 'Smart Growth' Amid Brand Refresh
Subway Closing Hundreds Of Restaurants Yearly, Aims For 'Smart Growth' Amid Brand Refresh The largest fast-food chain in the US is rapidly losing restaurants. Subway closed 631 locations in 2024, QSR Magazine reported on Tuesday, April 29. The sandwich giant ended the year with 19,502 restaurants nationwide – the lowest count in nearly 20 years. The Shelton, Connecticut-based company has shuttered about 7,616 locations in the US since peaking in 2015 with more than 27,000 restaurants. 2024 also marked Subway's largest yearly decline since it lost 1,043 locations in 2021. Despite mass closings, Subway remains the biggest restaurant brand in the US. Starbucks …

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by Chris Spiker
News
Body Of NYC Financier Washed Ashore In Spain Weeks Ago – But Desperate Family Kept Searching Body Of NYC Financier Washed Ashore In Spain Weeks Ago – But Desperate Family Kept Searching
Body Of NYC Financier Washed Ashore In Spain Weeks Ago – But Desperate Family Kept Searching A New York City banker who vanished during a sailing trip to Spain earlier this year was found dead – though his desperate family continued searching for weeks before getting the devastating news. Grant Barr, 37, disappeared on Tuesday, Jan. 28, while visiting friends and family in Estepona, a coastal town along Spain’s Costa del Sol. The discovery of his passport, boating license, and pants near a beach that same day sparked a desperate search. But on Monday, April 7, Barr’s father, Michael Carr, shared devastating news on Facebook: “It is with profound sadness that I speak of the passing…

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by Michael Mashburn