Subway to close 500 U.S. stores amid global growth

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It will meanwhile open about 1,000 locations worldwide.

Subway will close 500 US stores a year after closing more than 800, while expanding overseas.

The global expansion plan will put Subway restaurants in Mexico, the U.K., Germany, South Korea, India, and China, CEO Suzanne Greco told Bloomberg.

The chain closed over 800 of its stores previous year, which followed a smaller pullback in 2016. 2016 also saw store closings, Bloomberg reported.

The chain says it will close about 500 stores this year but will add more than 1,000 stores outside of North America.

All Subway stores are franchise owned, rather than owned by the company. Subway is the world's largest restaurant chain and we are confident we will remain the industry leader.

Sandwiches can be found in fast-food chains, gas stations, Panera Bread, Starbucks, and even outlets not previously seen as competitors such as Target and Walgreens, according to Fortune. Late previous year, the chain's billionaire co-founder Peter Buck even suggested developing an all-new business strategy: Either buying a rival sandwich chain, or quietly creating "sub-brands" that would trick customers into eating Subway without realizing it. Domestic stores are also being remodeled with a more modern look and conveniences such as touch-screen ordering kiosks, WiFi and charging ports.

"In North America we are implementing an aggressive revitalization plan, which we expect to result in the closing, consolidation or relocation of a few hundred locations in 2018", the Subway spokesman said.