Similar Stories to Ruby Tuesday Chain To Be Taken Private In $146 Million Deal on Bing News

Business Heds Index, Seattle Post-Intelligencer: Business
Mon, 10/16/2017 - 11:24am

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

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