Ruby Tuesday has filed for Chapter 11 bankruptcy protection, overcome by the financial pressures brought on by the pandemic, CNN Business reports.
“This announcement does not mean ‘Goodbye, Ruby Tuesday,’” said CEO Shawn Lederman in a statement. “Today’s actions will allow us an opportunity to reposition the company for long-term stability as we recover from the unprecedented impact of Covid-19.”
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Ruby Tuesday has closed roughly 200 locations within the past few years.
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