NEW YORK (AP) — Ruby Tuesday is being acquired for about $146 million in a deal that will take the struggling chain private. Like other sit-down restaurant chains, Ruby Tuesday has lost customers to cheaper, faster and more casual places. Comparable-store sales at Ruby Tuesday have fallen for six consecutive quarters and the company has not reported a quarterly profit in two years, even as it has made tweaks its menu and made small changes, like adding salad bars, in an attempt to boost traffic. The private-equity firm NRD Capital said Monday that it will pay $2.40 for each share, a 21 percent premium from the chain's closing price of $1.99 on Friday.

Topics:  york ap    nrd capital   chain   private   million   deal   ruby tuesday   
BING NEWS:
  • Arrests roil campuses nationwide ahead of graduation as protesters demand Israel ties be cut
    Students protesting the Israel-Hamas war woke up in tents at college campuses across the United States Sunday morning planning more protests demanding that schools cut financial ties to Israel and ...
    04/28/2024 - 4:42 am | View Link
  • Bans on private grants squeeze election budgets
    Wisconsin joined 27 other states that have banned or restricted local governments’ use of private donations to run cash-strapped election offices, buy voting equipment or hire poll workers for ...
    04/26/2024 - 6:33 pm | View Link
  • Chain restaurant with 1,400 units to be sold for $2 billion
    A popular smoothie restaurant chain is under contract to be sold to Blackstone, according to news reports. Reuters is reporting a New York City private equity company has agreed to buy Tropical ...
    04/25/2024 - 2:48 am | View Link
  • Ukraine aid debate is over — for now
    Five congressional staffers told NatSec Daily that they think more U.S. assistance will have to be sent to Ukraine down the road.
    04/24/2024 - 9:19 am | View Link
  • Ofcom warns broadcasters to remain impartial ahead of election, FTSE 100 hits new record high – as it happened
    FTSE shows ‘more stamina’ and is on track for its sixth consecutive session of gains, the first such winning streak since August 2023 ...
    04/24/2024 - 2:01 am | View Link
  • More

 

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Business News