News about Peter Buck

Barclays has been reported to two of the city's most influential regulators in connection with a bond pact with one of India's most well-known Bollywood film companies. Following a string of failures that have left customers thousands of pounds out of pocket and prompted complaints to the Financial Conduct Authority and the Financial Ombudsman, the bank has been accused of "incompetence, inertia, and sheer laziness." The standoff is centered on a £50 million bond issued by one-time Bollywood darling Eros.

The long-awaited collaboration was announced on Thursday and will see the world's biggest restaurant chain come under the umbrella of Atlanta-based Roark Capital. The acquisition, which is the second largest North American restaurant purchase in more than a decade, will continue to Roark's already extensive restaurant empire, which includes famous franchises like Dunkin' Donuts, Arby's, and Carvel. According to Subway brass, the change will see the opening of 23,000 new stores around the world, raising the restaurant's already impressive 33,679 locations around the world. It is the most recent advancement in the 5 foot long company's journey from a single sandwich shop in 1965 to the world's biggest fast-food chain. It was founded by a retired nuclear physicist and teenager and has remained in their families ever since.

Last month, Subway, a franchise chain that has more than 37,000 outlets in over 100 countries, announced that it is considering a potential merger as a result of rising costs and growing competition. The Subway chain was founded in 1965 by 17-year-old Fred DeLuca and a family friend Peter Buck (together principal), and the two men's families remain closely held following their deaths. The Peter and Carmen Bruno Buck Foundation, the Buck family charity, has announced that it would inherit his 50% interest in the company as a result of his will. Elisabeth (top right) of DeLuca is thought to be the company's widow.

The sandwich chain in the United States revealed that it was considering a potential acquisition of its franchise as a result of rising costs and increased competition from deeper-pocketed rivals. According to the Wall Street Journal, a potential auction could value Subway at more than $10 billion last month. Fred DeLuca, a 17-year-old Fred DeLuca and his family friend Peter Buck, founded the company in 1965 in Bridgeport, Connecticut, and has been owned by the founding families since its first restaurant, 'Pete's Super Submarines,' was opened. It has more than 37,000 restaurants in over 100 countries, including 2,301 in the United Kingdom, but has closed more than 1,000 outlets since 2021.

The late Peter Buck, a former nuclear scientist whose $1,000 investment aided in the establishment of the sandwich empire, made the multibillion-dollar donation. Buck died at the age of 90 in 2021, but he left instructions in his will to give half of the chain to a non-profit organization he and his wife established in 1999. The gift, which is expected to rise to $5 billion, could lead to a potential conflict, as Subway executives are reported to have expressed an ambiguous interest in a corporate merger.