Ruby Tuesdays decline was several years in the making, becoming even more rapid during the pandemic and prompting speculations from industry insiders about the growing likelihood of a bankruptcy.
Back in April, it was reported that the company had closed about 30% of its 470 locations permanently. Closures continued into the summer, some taking place so abruptly that even the chains employees had no idea theyd be encountering a shuttered restaurant when they showed up for their morning shifts. (Related: 9 Restaurant Chains That Closed Hundreds of Locations This Summer.)
And now its officialRuby Tuesday has declared bankruptcy. The Tennessee-based business had closed down almost 300 restaurants in three years (186 this year a…
Read the full article at: https://kyrnews.com/americas-favorite-restaurant-bar-chain-is-going-bankrupt/
