facebook pixal

Potbelly

Financing

Potbelly works to avoid bankruptcy

The sandwich chain is negotiating with landlords to close locations but has hired restructuring advisors, says RB’s The Bottom Line.

Financing

Potbelly expresses concern over its future as a company

The struggling sandwich chain included a going concern warning in its financial filing, noting that it likely will not be able to comply with its credit agreement and may not survive the year.

The struggling fast casual said it might shutter 100 sandwich shops that were performing poorly before the pandemic as it scrambles to make up ground lost to the impacts of the virus.

The struggling sandwich chain said same-store sales are now down 45%, up from minus 68% during the height of the coronavirus crisis.

The struggling sandwich chain has appointed two new members to its board in an agreement with a coalition of shareholders.

The relief funds have flowed to operations such as Ruth’s Chris and Potbelly.

The industry veterans join the fast-casual chains during a time of massive disruption due to COVID-19.

The sandwich chain is offering presliced meats and cheeses, along with its bread and hot peppers, for curbside pickup and delivery.

The struggling sandwich shop is facing pressure from activist investors and falling traffic.

Potbelly will consider input from the Vann A. Avedisian Trust regarding the nomination of potential directors at the chain’s annual shareholders meeting.

  • Page 3