Activist Criticizes Potbelly: ‘Nothing but Losses’

June 29, 2017

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Potbelly franchises around 40 locations internationally, though it has more than 400 shops in the U.S. alone.
Ancora Advisors wants the fast casual to change, or sell.
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An activist shareholder wants sandwich company Potbelly to either change its strategy or explore selling.

Ancora Advisors, which owns 4 percent of Potbelly shares, is urging the company to franchise more restaurants, curtail store expansion, and appoint a new board member to improve performance as investors have experienced “nothing but losses” following Potbelly’s IPO in 2013.