Potbelly Corporation is a publicly traded restaurant chain that sells submarine sandwiches and other food in the United States, United Kingdom, United Arab Emirates and Canada. The company is headquartered at the River Center at 111 N. Canal Street, in Chicago, Illinois.
Video Potbelly Sandwich Works
History
Founding and growth
Potbelly Sandwich Shop is a sandwich and food store that was founded in 1977 by Peter Hastings. The original store is located at 2264 North Lincoln Avenue in Chicago, in a retail space that was previously an antique store called Hindsight, also owned by Hastings. Many of the items that decorated the restaurant were taken from the former antique store including the namesake Potbelly stove. In 1996, Bryant Keil purchased the original store. Keil quickly expanded the store. The second store was opened in 1997, and he expanded Potbelly to over 300 stores in several states and the District of Columbia., Investors include Maveron and American Securities.
New stores and IPO
On November 5, 2007, a new Potbelly store in Glen Ellyn, Illinois, became the first to feature a drive-through. A second drive-through store was added shortly thereafter in Waukegan, Illinois.
In 2011, Potbelly opened two franchise stores in Dubai in the United Arab Emirates; these are the first international Potbelly locations. Additionally, Potbelly has the most corporate owned sandwich stores in the US.
In August 2013, Potbelly filed an IPO with US regulators to raise up to $75 million. Shares in the company began trading on the NASDAQ Stock Market on October 4, 2013.
Potbelly opened its first European store at Westfield Stratford City, London, in July 2015 and its first Canadian store in Toronto in October 2016.
By August 2017, 60% of Potbelly's business came from lunch. It had 424 owned stores and 54 franchised stores. Early that month, Potbelly announced it was considering putting itself for sale.
Maps Potbelly Sandwich Works
See also
- List of submarine sandwich restaurants
References
External links
- Official website
Source of the article : Wikipedia
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