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Schlotzsky's Shareholders Reject Sale

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Austin, Texas--Schlotzsky's shareholders rejected pursuit of a sale of the sandwich chain, with 66.3 percent voting against the proposal, 32.4 percent for the proposal and 1.3 percent abstaining, according to the company. Joseph Beard, a major shareholder, had called for Schlotzsky's to consider selling itself before next February, citing the company's poor financial performance. -Austin Business Journal