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Brightloom Accelerates COVID-19 Recovery for Consumer Brands and Signs New Customers Ruby Tuesday, El Pollo Loco, and Cactus

Brightloom Accelerates COVID-19 Recovery for Consumer Brands and Signs New Customers Ruby Tuesday, El Pollo Loco, and Cactus
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Ruby Tuesday Exits from Chapter 11 Restructuring

Ruby Tuesday Exits from Chapter 11 Restructuring
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Ruby Tuesday Emerges from Voluntary Chapter 11 Restructuring

February 24, 2021 · · Maryville, TN ( Ruby Tuesday today announces its successful emergence from bankruptcy. A Delaware bankruptcy judge confirmed the casual dining restaurant chain’s Chapter 11 plan of reorganization on February 17. The company had sought bankruptcy protection on October 7, 2020. The bankruptcy allowed Ruby Tuesday to shed liabilities, including leases from closed locations that were significantly impacted by COVID-19, and to strengthen its core business of 209 corporate-owned and operated locations. The successful emergence from Chapter 11 will allow Ruby Tuesday to reinforce the brand’s commitment to its existing guests, while continuing to develop virtual “delivery-only” brands to capitalize on its core strengths and increased off-premise business as part of the company’s long-term growth plan.

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Ruby Tuesday Emerges from Voluntary Chapter 11 Restructuring

Ruby Tuesday Emerges from Voluntary Chapter 11 Restructuring
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Ruby Tuesday emerges from bankruptcy, shifts focus to delivery-only brands

By Reuters Staff 2 Min Read (Reuters) - Casual dining chain Ruby said on Wednesday it had emerged from bankruptcy, nearly five months after it filed for Chapter 11 protection as restrictions due to the COVID-19 pandemic halted dine-in operations. The restaurant chain, known for its classic American burgers and steaks, said the bankruptcy allowed it to shed liabilities, including leases from closed locations that were impacted by the health crisis and focus on 209 company-owned locations. “Ruby Tuesday is a healthier company now and is positioned to be more efficient, competitive and stable for the future,” Chief Executive Officer Shawn Lederman said.

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