Nation's Restaurant News: Potbelly CEO says struggling brand ‘explored’ a sale

Potbelly has revealed that it recently considered a sale of the company. According to a recent article in Nation's Restaurant News, the brand scrapped this idea after a recent review of its operations that began back in December.

“After a thorough and wide-ranging sales process, ultimately this effort did not result in a transaction that the Potbelly board determined to be viable or in the best interest of the company and our shareholders,” said CEO Alan Johnson.

The brand will instead work towards a company turnaround. Key components of this revitalization effort will include a menu refresh, strategic marketing and an emphasis on off-premise dining. In addition to these initiatives, Potbelly has also brought a Michelin star chef onboard as vice president of culinary innovation.

Read the full article here.