Good Lifestyle

The decline of Ruby Tuesday was several years in manufacturing, becoming even faster during the pandemic and arouses industry insider speculations on the increasing probability of bankruptcy.

Back in April, it was reported that the company had closedabout 30% of its 470 locations permanently. The closures continued in the summer, some take place so abruptly that even the chainEmployees had no idea that they met a shutter restaurant When they came for their morning shifts. (In touch:9 restaurant chains that have closed hundreds of locations this summer.)

And now, he is official-Ruby Tuesday declared bankruptcy. The Tennessee-based company had closed nearly 300 restaurants in three years (186 this year) and raised $ 43 million more than $ 19 million due to homeowners and suppliers,Depending on the restoration business..

However, the CEO of Ruby Tuesday stated in a statement that the channel does not plan to say goodbye to customers so far. He noted that the deposit of bankruptcy is "an opportunity to reposition the company for long-term stability, as we remedies the unprecedented impact of COVID-19", which constitutes a typical plan of Chapter 11 of the applicants of Protection against bankruptcy. The company still worksAbout 230 restaurants.

Prior to this year, Ruby Tuesday suffered a lower sales due to a major change in consumer attention from casual dinner restaurants in fast food options and fast casual options. Then, once the pandemic has been affected, their final result was also affected by the closure of dinner companies. Although the delivery activities of the chain increased by 450% during this period, the transition away from an integrated dinner model was not as smooth as that of other restaurants offering well-established delivery operations.

In recent months, the channel has begun to use its kitchens to accommodate other delivery concepts, such asNathan's famous dogs. While the monetization of an excess cooking space can be a creative way to generate additional income for society, the biggest question now lies if Ruby Tuesday can return and become relevant for a new generation of customers.

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