Judge expected to sign off on deal that could mean the end of โSalt Lifeโ clothing stores
After being sold at auction, the Salt Life apparel business is expected to have new owners. A bankruptcy judge will take a look at the deal in a hearing Thursday afternoon.
Pizza buffet chain Ciciโs files for bankruptcy
Ciciโs, the restaurant chain thatโs best know for its pizza buffets, has filed for bankruptcy. In a court filing done on Monday, Ciciโs blamed the pandemic. Unlike other pizza companies, Ciciโs struggled making delivery a viable option due to its buffet style dining model. Ciciโs has between 50 to 100 million in liabilities. The chain came to an agreement in December for its primary lender, D&G investors, to purchase the company and its $82 million in debt.
Ruby Tuesday files for bankruptcy
Ruby Tuesday has filed for Chapter 11 bankruptcy protection, overcome by the financial pressures brought on by the pandemic, CNN Business reports. โThis announcement does not mean โGoodbye, Ruby Tuesday,โโ said CEO Shawn Lederman in a statement. โTodayโs actions will allow us an opportunity to reposition the company for long-term stability as we recover from the unprecedented impact of Covid-19.โRuby Tuesday has closed roughly 200 locations within the past few years. To read more, click here.