Ruby Tuesday Files for Bankruptcy, Permanently Closes 185 Restaurants amid Coronavirus Pandemic
Grand Forks Herald / AP; Courtesy Ruby Tuesday Ruby Tuesday
Ruby Tuesday filed for Chapter 11 bankruptcy on Wednesday, making it the newest restaurant to suffer financially due to the coronavirus pandemic.
Founded in 1972, the Tennessee-based restaurant chain hopes to reduce its debt to improve its finances and stay in business.
"This announcement doesn't mean 'goodbye Ruby Tuesday," "CEO Shawn Lederman said in a statement. "Today's actions provide us with an opportunity to reposition the company for long-term stability as we recover from the unprecedented effects of Covid-19."
Lederman said on the file that 185 restaurants that previously closed during the pandemic will not reopen, NPR reported. 236 restaurants are still open, but with COVID-related restrictions such as: B. Seating Capacity.
"We don't anticipate additional restaurant closings at this time," said Jenifer Boyd Harmon, Ruby Tuesday's chief marketing officer, in a statement to USA Today. "We continue to strive to provide safe, high-quality experiences for our guests in all of our current locations."
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Ruby Tuesday is one of many restaurants to file for bankruptcy this year due to COVID-19.
Last month, California's steakhouse chain Sizzler announced that it would file for bankruptcy. On July 30, the casual dining chain California Pizza Kitchen announced the same filing in the US bankruptcy court for the southern district of Texas.
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