PUZZLE: Minus Sign

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Last night I drove by the illuminated sign of a national chain. Two consecutive letters in the sign were burned out. “Hmm,” I thought to myself, “If one new letter were added to the sign, it could be used for a sandwich shop.” Later, I drove past the sign in the other direction. On the other side of the sign two consecutive letters were burned out, both different from the burned-out letters on the side I originally saw. “Hmm,” I thought to myself, “If new one letter were added to the sign, it could be used for a … Gilbert & Sullivan theater.”

What national chain was the sign for?

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