The rise and fall of Ruby Tuesday, which just declared bankruptcy after struggling through the coronavirus pandemic
Restaurant chain Ruby Tuesday filed for bankruptcy after closing one-third of its locations this year.on October 7 in the U.S. Bankruptcy Court for the District of Delaware after a troubled year was worsened by the coronavirus pandemic. Stay at home orders and capacity restrictions hit Ruby Tuesday and other casual chains hard, many of which were already struggling. At least
have also filed for bankruptcy this year, including California Pizza Kitchen and the US arm of Le Pain Quotidien.that this is not the end of Ruby Tuesday, but instead "an opportunity to reposition the company for long-term stability."The first Ruby Tuesday was opened by 21 year old Sandy Beall in 1972, right next to the University of Tennessee in Knoxville, where he was a student.As a student, Beall managed three Pizza Hut franchises.
A Pizza Hut location, which is owned by Yum Brands Inc, is pictured ahead of their company results in Pasadena, California, U.S., July 11, 2016.The first restaurant, now closed, was a "burger and beer joint" according to the New York Times.A fraternity brother and investor suggested the name Ruby Tuesday, after the Rolling Stones song.
In this March 24, 2016 file photo, members of The Rolling Stones, from left, Mick Jagger, Charlie Watts, Keith Richards and Ron Wood pose for photos from their plane at Jose Marti international airport in Havana, Cuba.Beall also visited New York City to get ideas and look at potential competition, including TGI Fridays.Over the first few years, Beall opened restaurants at a rate of one every nine months.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Levi's opening NextGen stores with 'Tailor Shops.' Take a look inside. - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
PHOTOS: An exclusive tour of the $4 million Bugatti Chiron Pur Sport - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
Custom, Rolls-Royce-inspired shooting brake: info, photos - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
Insider Cannabis newsletter: October 9 - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
New York Movie Theaters Use Marquees to Berate Gov. Andrew CuomoFrustrated exhibitors across New York are using their marquees to send a very public message to Gov. Andrew Cuomo, whose administration has yet to allow cinemas to reopen
Read more »
25 best cities to start a business, according to four metrics - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »