Retail alert: Subway is closing 500 restaurants

A Subway restaurant is seen as the company announced a settlement over a class-action lawsuit that alleged that Subway engaged in deceptive marketing for its 6-inch and 12-inch sandwiches

Subway plans to close 500 of its U.S. sandwich shops this year and will focus on expanding internationally, according to Bloomberg.

The company has faced competition from McDonald’s, supermarkets and even gas stations. It’s reportedly struggling to increase sales in the U.S. as new options emerge.

There are still more than 25,000 Subway locations across the country.