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Another Subway Sandwich Shop Appears to Be Closing
The Subway sandwich shop at 137 Hudson closed in January, and the one at 510 Broome also closed sometime around then. Now the Subway at 297 Church (between Walker and White) appears to be on the way out: A “for rent” sign has appeared in the window.
That leaves five Subway outposts in the area—250 Broadway (on Park Place), 51 Murray, 165 Church, 90 Worth, and 153 Chambers (which has become part convenience store).
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According to Bloomberg: “The company lost 359 U.S. locations in 2016, the first time that Subway had a net reduction. The store count dropped 1.3 percent to 26,744 from 27,103 in 2015, but Subway remains the nation’s most ubiquitous eatery. (McDonald’s Corp. is No. 1 by sales.)
“The closely held company is coping with a sales slowdown in the U.S., made worse by the emergence of newer fast-casual rivals and the industry’s heavy reliance on discounts and promotions. Subway also has lost some of its luster as a healthier-food option.”
http://www.bloomberg.com/news/articles/2017-04-20/subway-shuts-hundreds-of-u-s-stores-in-historic-retrenchment
Subway apparently cannot charge enough for its sandwiches (or do enough breakfast and dinner business) to support Manhattan rents. As far back as December 2014, Commercial Observer tweeted from the NYC ICSC conference, “@SUBWAY is getting priced out of Manhattan and will need to relocate 10 stores within next year, says Bill Rose of Subway. @ICSC #NYConf”
297 Church St subway has been dismantled.