Ruby Tuesday to close 95 restaurants
MARYVILLE, Tenn. — Restaurant chain Ruby Tuesday has announced they will close 95 under-performing restaurants by September, according to a news release by the company.
The company has not identified which of its 724 restaurants will close. The chain has 8 restaurants in Colorado, including 4 in the Denver metro.
The chain says that employees impacted by closures will be offered positions in nearby restaurants where possible.
“The decision to close restaurants is a difficult but necessary step as we take aggressive actions to strengthen our organization,” Ruby Tuesday CEO JJ Buettgen said in a release.
“Performance at each of these locations, despite the loyalty of valued guests and the efforts of our dedicated employees, was not meeting expectations,” he said.
The company said that total revenue dropped 5.9 percent during the company’s fourth quarter, to $279.3 million.