In a trend that seems to be carrying through 2016, another national chain has announced its intent to close a significant number of stores. But unlike similar recent announcements, this one will be swift.
Ruby Tuesday Inc. announced it will close 13 percent of its stores, citing dropping traffic and declining revenue. The 95 locations will shut down next month.
The company did not release a list of locations targeted for closure, so it’s unclear whether the restaurants in Cape Girardeau or Sikeston, Missouri, will be among them.
In a company news release, J.J. Buettgen, chairman of the board, president and CEO of Ruby Tuesday, said aggressive action was needed to strengthen the organization.
“Performance at each of these locations, despite the loyalty of valued guests and the efforts of our dedicated employees, was not meeting expectations,” Buettgen said.
Full-time and part-time employees affected by closings will be offered positions in nearby restaurants where possible.
In the same week as the Ruby Tuesday announcement, Logan’s Roadhouse Inc. filed for Chapter 11 bankruptcy, and Macy’s Inc. announced it will close 15 percent of its stores.
Pertinent address:
3069 William St, Cape Girardeau, Mo.
2612 E. Malone Ave., Miner, Mo.
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