Maryville, Tenn-based casual dining chain Ruby Tuesday has filed for Chapter 11 bankruptcy protection to address financial problems caused by the COVID-19 outbreak and associated restaurant closings.
The restaurant chain owned by NRD Capital Management will be closing 185 stores that had been temporarily shut during the pandemic, and the remaining 236 company-owned restaurants will operate as usual. Ruby Tuesday will use the filing to strengthen its business by reducing liabilities to emerge a stronger organization.
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