Milford-based Subway is exploring a possible sale.
On Tuesday, the company released a statement saying that its shareholders are exploring a possible sale of the company.
The statement on the company website said J.P. Morgan is advising the company and will conduct the sale exploration process. The company added that there is no indication of timing or assurance that a sale will occur.
“The management team remains committed to the future and will continue to execute against its multi-year transformation journey, which includes a focus on menu innovation, modernization of restaurants and improvements to its overall guest experience,” the statement from Subway says.
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Subway is based in Milford and restaurants are owned and operated by Subway franchisees.
Earlier this month, CNBC reported that the company would become half-owned by a charity after Subway co-founder Peter Buck’s foundation announced that he had left his 50% ownership of the sandwich chain to the organization.
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