Maryville, Tenn. — Ruby Tuesday Inc. has filed for Chapter 11 bankruptcy protection with plans to permanently close 185 restaurants that were shuttered during the COVID-19 pandemic. The company’s 236 open locations will remain operational throughout the reorganization process. The Maryville, Tenn.-based chain is the latest restaurant group to fall victim to the economic pressures caused by the coronavirus pandemic. California Pizza Kitchen filed for Chapter 11 protection in July citing similar struggles. “This announcement does not mean ‘Goodbye, Ruby Tuesday’ — this is ‘Hello, to a stronger Ruby Tuesday’,” …
katie sloan
Playa Vista, Calif. — California Pizza Kitchen (CPK) is the latest fast-casual restaurant chain to file for bankruptcy protection due to strain brought on by the coronavirus (COVID-19) pandemic. The company filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Texas on July 30, 2020 in order to “close unprofitable locations, reduce its long term debt load and quickly emerge from bankruptcy as a much stronger company,” according to the filing. The Playa Vista, Calif.-based company did not release a list detailing which …
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