Subway, the chain known for its footlong sandwiches, is considering a sale, according to reports citing anonymous sources.
"As a privately held company, we don't comment on ownership structure and business plans," a company spokesperson told Entrepreneur via email, echoing its statement to the Wall Street Journal and Reuters. Both outlets reported the news Wednesday evening.
"We continue to be focused on moving the brand forward with our transformational journey to help our franchisees be successful and profitable," the Subway rep added.
The deal could value the company at over $10 billion, the WSJ reported. It also said that the company is retaining advisers to help look into a sale. However, the outlet also notes private equity (if a firm in the sector emerged as a possible buyer) has been struggling to obtain certain types of financing amid higher interest rates, making a potential sale possibly more challenging.
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