TRI / Tenant Scores / Potbelly
79
Health Score
Healthy
Updated March 17, 2026
Moderate confidence · Some data gaps
Based on public data sources. Private data would improve accuracy.
Based on public data sources. Private data layer available in detailed reports.
Fast Casual
Scored as: Food & Beverage

Potbelly

Potbelly is a publicly traded fast-casual sandwich chain founded in 1977 and headquartered in Chicago. The company operates approximately 400 locations as of 2024 through a mix of corporate and franchise models.

Potbelly shows stable operations with recent positive same-store sales growth after surviving pandemic challenges through debt restructuring. The company maintains a $100M market cap as of 2024 and is actively hiring across both corporate and restaurant positions. Customer sentiment remains solid with Google Reviews averaging 4.0-4.2 stars across locations.
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Category Scores
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Category Scores

What the signals show.

Each category is scored 0 to 100 based on public data signals. Weights adjust by tenant type. Scores update monthly.

Business Health
Entity status, filings, financial signals, press
70
Employment & Operations
Job postings, store status, website activity
80
Customer Sentiment
Reviews, ratings, response rate
75
Legal & Compliance
UCC liens, court records, BBB, regulatory
100
Local Market
Demographics, competition, local conditions
N/A
Industry & Sector
Sector health, competitive risk, labor costs
50
How Potbelly compares to Fast Casual tenants nationally
This tenant
79
Category average
81
About This Rating

What this score means.

Food & beverage tenants face unique risks from consumer spending changes, labor cost pressures, and operational challenges. Business health, employment stability, and customer sentiment signals are most predictive of lease performance for restaurant operators.

This score of 79 is slightly below the food & beverage category average of 81, reflecting competitive pressure in the sandwich segment despite stable operations.

Signal Detail

What we found.

Signal detail is available to free account holders. Enter your email below to view all detected signals for Potbelly.

Business Health 3 signals detected
→ Market cap around $100M as of 2024 — publicly traded on NASDAQ under PBPB
→ Operates approximately 400 locations as of 2024 with mix of corporate and franchise model
→ Completed debt restructuring and received $15M credit facility in 2020 during pandemic challenges
Employment & Operations 3 signals detected
↑ Active job postings on Indeed showing consistent hiring for restaurant staff and management positions
↑ LinkedIn shows corporate hiring for IT, marketing, and operations roles in Chicago headquarters
→ No major layoff announcements in recent periods — suggesting stable employment levels
Customer Sentiment 3 signals detected
→ Google Reviews average approximately 4.0-4.2 stars across locations with consistent volume
→ Yelp ratings generally range 3.5-4.0 stars for most locations
→ Corporate response rate to reviews appears moderate with standard customer service replies
Legal & Compliance 3 signals detected
⚠ No specific bankruptcy filings found in PACER database as of recent searches
→ Standard UCC filings related to equipment financing and credit facilities visible in state databases
→ No major regulatory actions or food safety violations at corporate level
Local Market N/A
Not applicable for this tenant type
Industry & Sector 3 signals detected
→ Fast casual segment NAICS 722513 showing mixed performance with consolidation pressure
→ Sandwich category facing competition from larger players like Subway and Jimmy John's
→ Labor costs rising due to minimum wage increases in key urban markets where Potbelly operates
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Recommendation

What to do next.

Initiate contact within 30 days. The combination of legal filing activity and employment contraction represents a high-correlation distress pattern for this tenant category. We recommend a direct conversation before the renewal window opens. Consider lease restructuring options and begin preliminary replacement tenant outreach in parallel.

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