*Editor’s note: This story has been corrected to say David Cadden rather than John Cadden.*
MILFORD, Conn. (WTNH) — Are the days numbered for the famous footlong’s footprint in Connecticut?
According to the Wall Street Journal, the Milford-based Subway could be up for sale. The outlet claims that the company is fielding inquiries from operating companies and private equity firms for a potential $10 billion.
David Cadden, a professor emeritus of entrepreneurship and strategy at Quinnipiac University, said a potential sale could impact the local economy.
“If they move the corporate headquarters to another location, those people are either gonna be transferred, or they lose their job,” Cadden said. “So, we would lose those jobs and the tax break that accrues from it. But, I think in the case of an acquisition such as this, I don’t think it impacts significantly the reputation of the state of Connecticut in terms of being attractive or unattractive for corporate headquarters.”
Subway released a statement saying that “As a privately held company, we don’t comment on ownership structure and business plans. We continue to be focused on moving the brand forward with our transformational journey to help our franchisees be successful and profitable.”
Cadden said a potential move for Subway and WWE would hurt the state by fueling an argument that Connecticut isn’t attractive to businesses.