Ruby Tuesday Information For Chapter – CBS dangolka

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(CBS/CNN) — Informal eating chain Ruby Tuesday has filed for chapter, overcome by the monetary pressures introduced on by the pandemic. In Massachusetts, there are Ruby Tuesday eating places on the Wrentham Shops and in Taunton.
The practically 50-year-old firm filed for Chapter 11 chapter safety Wednesday, with the intention of decreasing its debt and working as regular whereas it navigates the method. Like others, Ruby Tuesday’s enterprise declined extra this 12 months due to the non permanent closure of its eating rooms that pressured some places to completely shut.
“This announcement doesn’t imply ‘Goodbye, Ruby Tuesday,’” mentioned CEO Shawn Lederman in an announcement. “At this time’s actions will enable us a chance to reposition the corporate for long-term stability as we get well from the unprecedented impression of Covid-19.”
Ruby Tuesday was struggling earlier than Covid-19. The privately held chain has closed roughly 200 places inside the previous few years, with about 300 remaining globally. It’s unclear if extra places will shut.
Restrictions on indoor eating and the powerful economics on getting cash from supply or take out have pressured a lot of chains to file for chapter, together with Sizzler USA, California Pizza Kitchen, Chuck E. Cheese and Vapiano.
Ruby Tuesday, just like the Olive Backyard, additionally has a flagship location in New York’s Occasions Sq.. A search on its web site exhibits it now not being open.
(© Copyright 2020 CBS Broadcasting Inc. All Rights Reserved. CNN’s Jordan Valinsky contributed to this report.)

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