Sal’s pizza chain has been hit with a wave of bad press in recent months.
Bloomberg reports that its board has asked to consider a sale, as the chain has reportedly lost more than $6 billion since 2010.
The New York Times reports that Sal’s CEO is seeking to sell the company for $4.5 billion, but it is unclear if the bid is worth that much.
According to Bloomberg, Sal’s has struggled in recent years, with its revenue falling more than 50% since 2010 and falling sales more than 40% since 2014.
Bloomberg reports that the Sal’s board also asked to explore a sale of the chain’s parent company, Frank’s Pizza, which is based in California.
Frank’s has a $2.5 trillion debt rating.
Frank’s has been plagued by poor sales for years, as consumers have moved to other fast food chains, such as Chipotle, Subway, Papa John’s, and Subway Prime.
As Bloomberg notes, Sal to sell Frank’s would be the latest in a long string of companies that have struggled in the past few years.
Last year, Burger King pulled out of a deal to buy Domino’s, Pizza Hut announced it would stop making Pizza Hut pies, and McDonald’s and Burger King both announced they were ending sales of the company’s namesake hamburger.
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