Ruby Tuesday files for bankruptcy amid COVID-19 pandemic
(Gray News) - Restaurant chain Ruby Tuesday has announced it has filed for Chapter 11 bankruptcy as a result of the impacts of the COVID-19 pandemic.
The company plans to keep its reopened locations operational as it goes through the bankruptcy process, but it will permanently close 185 locations that shut down due to coronavirus guidelines.
“This announcement does not mean ‘Goodbye, Ruby Tuesday.’” CEO Shawn Lederman said. “Our restructuring demonstrates a commitment to Ruby Tuesday’s future viability as we work to preserve thousands of team member jobs.”
Most of the casual dining chain’s restaurants have reopened amid the COVID-19 pandemic with increased distancing and additional cleaning measures.
The first Ruby Tuesday opened in Knoxville, Tenn., in 1972.
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