Sandwich chain Subway is the latest company to defy the economic downturn as it announces plans to open another 600 stores by the end of next year.
The chain, which makes sandwiches from fresh for customers, is investing £60m in the expansion and plans to create 7,000 new jobs.
While some eat-in restaurant chains are taking a cautious approach to expansion in 2009, many take-away businesses are doing the opposite with reports that cash-strapped customers are choosing to eat in rather than out.
At the beginning of this month, Dominos Pizza said it was expecting to exceed financial targets for 2008 with like-for-like sales up 10 per cent in December 2008 and bakery chain Greggs also reported strong festive trading.
US-born franchise chain Subway has employed a rapid expansion programme in the UK since opening 25 stores here in 2000. There are now 1,400 stores operating in the UK.
Neil Black, development agent for Subway, said: “In the last month there have been 22 new Subway stores opened in the UK and Ireland, creating 264 jobs and seeing an investment of over £2m. We are delighted with the success we’ve achieved and that we are going to be able to provide a further 7,000 jobs. The Subway chain has already brought significant investment and job creation to the UK and Ireland, creating over 16,000 jobs to-date.”