In April 1982, Beall sold the expanded 16-unit Ruby Tuesday chain to Morrison Inc. Over the next decade, a new location opened about every nine months. The location was adjacent to the university's Knoxville campus, and although the building still stands, the restaurant has since closed. With that money, and another $10,000 put together with four of his University of Tennessee fraternity brothers, the first Ruby Tuesday restaurant was opened in 1972. Beall took the name from The Rolling Stones song " Ruby Tuesday", after a suggestion by one of several fraternity brothers who were co-investors. Ruby Tuesday was born out of a $10,000 endowment Sandy Beall had received from a friend and operator of several Pizza Huts to open his own restaurant. History Ī Ruby Tuesday restaurant in Durham, North Carolina, August 2008. Ruby Tuesday emerged from bankruptcy on February 24, 2021, with 209 restaurants, having closed more restaurants than initially planned. After the closures, the company would have 236 company-owned and operated locations, as well as an undisclosed number of locations run by 10 franchisee groups. Ruby Tuesday filed for Chapter 11 Bankruptcy protection on Wednesday October 7, 2020, stating it will permanently close 185 restaurants that had been shut down during the COVID-19 pandemic. In October 2017, it announced that NRD Capital Management would be taking the company private through a $146 million deal in early 2018. On June 6, 2012, founder and CEO Sandy Beall announced he would be leaving the company. Additionally, it holds development rights to Truffles Grill. The company has closed all locations of Wok Hay and Marlin and Ray's. In 2016, Ruby Tuesday sold the rights to the Lime Fresh Mexican Grill to an undisclosed buyer in an attempt to refocus on the main Ruby Tuesday brand. Its greatest density of locations is along the eastern coast of the United States (aside from Boston) as it closed a number of locations in the Great Basin and Great Plains regions, including Chicago, in recent years. Its flagship brand is an American cuisine casual dining restaurant chain with locations throughout the United States aside from the Pacific Coast states. It is headquartered in Maryville, Tennessee, and has 209 locations worldwide, with some temporarily closed due to the COVID-19 pandemic. ![]() The corporation was formed in 1996 as a reincorporation of Morrison Restaurants Inc. ![]() The concept was started in 1972 by Samuel E. is an American multinational foodservice retailer that owns, operates, and franchises Ruby Tuesday restaurants.
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