Is Ruby Tuesday Really Closing Forever?

As a brand, Ruby Tuesday is dedicated to offering high-quality dishes, such as handcrafted burgers, to its customers. A description on its website states, "Ruby Tuesday is driven by uncompromising freshness and quality, gracious hospitality and a growing list of restaurants destined to be the envy of the casual dining business."

While that sounds promising, it's important to point out that things have not always been easy for the brand. In fact, it would be fair to say that Ruby Tuesday has been dealing with severe financial troubles for awhile. While there are several reasons for this, such as the impact of the coronavirus pandemic on the food industry and the delicine of the bar-and-grill format, Ruby Tuesday has found itself struggling to stay afloat and keep its businesses profitable in these difficult times.  

This slowdown has also resulted in several online claims that Ruby Tuesday is closing down for good. But, according to Snopes, this is just a rumor and is based on mere speculation. Here's what we know.

Ruby Tuesday is not going away

Per Snopes, it's undeniable that Ruby Tuesday is going through a rough patch and has filed for bankruptcy. Hundreds of outlets across the U.S. have already been closed as a result. However, the brand is not giving up or disappearing from the food industry anytime soon and is focused on repaying its debts.

Ruby Tuesday's CEO, Shawn Lederman, remained optimistic about the future when the brand announced its bankruptcy in October 2020 (via Business Wire.) He said, "This announcement does not mean 'Goodbye, Ruby Tuesday.' 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."

Basically, the brand still has over two hundred Ruby Tuesday restaurants open across the country and is working on restructuring its business model and figuring out its next steps. The bottom line? Fans can heave a sigh of relief: There are no plans to close down Ruby Tuesday as of now.