Even in good times, the old-school dine-in restaurant business struggled to survive beneath the weight of high rents, thin margins and tough competition. So when Massachusetts-based Friendly’s this week sought bankruptcy protection for the second time in 10 years, it was not only unsurprising, but...
Struggling casual dining chain Ruby Tuesday is filing for Chapter 11 bankruptcy protection, the restaurant announced on Wednesday (Oct. 7). Under the reorganization, the company said it plans to close 185 locations, which leaves the franchise with 236 operating restaurants. “This announcement does not mean ‘Goodbye, Ruby Tuesday’ but...
According to CNBC news reports published on Monday (Oct. 16), Beall, Illinois-based food service retailer Ruby Tuesday has agreed to an acquisition by Atlanta, Georgia, private equity franchise funding firm NRD Capital. Ruby Tuesday has been battling declining sales and foot traffic for years. The...
October 07, 2020
Struggling casual dining chain Ruby Tuesday is filing for Chapter 11 bankruptcy protection, the restaurant announced on Wednesday (Oct. 7). Under the reorganization, the company said it plans to close 185 locations, which leaves the franchise with 236 operating restaurants. “This announcement does not mean ‘Goodbye, Ruby Tuesday’ but ‘Hello, to a stronger Ruby Tuesday’,” CEO Shawn Lederman said […]
October 16, 2017
According to CNBC news reports published on Monday (Oct. 16), Beall, Illinois-based food service retailer Ruby Tuesday has agreed to an acquisition by Atlanta, Georgia, private equity franchise funding firm...
