TL;DR
Potbelly considered a sale of the company but decided against it after a review of its operations. The brand will instead work towards a company turnaround with a menu refresh, strategic marketing, and an emphasis on off-premise dining.
Potbelly has revealed that it recently considered a sale of the company. According to a recent article in Nation's Restaurant News , the brand scrapped this idea after a recent review of its operations that began back in December.
“After a thorough and wide-ranging sales process, ultimately this effort did not result in a transaction that the Potbelly board determined to be viable or in the best interest of the company and our shareholders,” said CEO Alan Johnson.
The brand will instead work towards a company turnaround. Key components of this revitalization effort will include a menu refresh, strategic marketing and an emphasis on off-premise dining. In addition to these initiatives, Potbelly has also brought a Michelin star chef onboard as vice president of culinary innovation.
In this story
This story was originally published in 1851 Franchise on May 9, 2018. Burnaze summarizes and links to the original reporting.
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