Restaurant chain Ruby Tuesday Inc. filed Chapter 11 bankruptcy in Delaware as it seeks to stabilize its finances during the pandemic. The filing comes after the company reached an agreement with secured lenders to support a restructuring plan. Ruby Tuesday’s restaurants will operate as usual while the firm attempts to recover from the effects of the COCID-19 crisis. Liabilities are estimated between $100 million and $500 million, according to the Delaware court filing. The brand includes more than 500 company-owned and franchised restaurants that employ almost 28,000 staff.
Planning to file for bankruptcy but need help? We can help. Contact our office at 816-524-4949 or you can visit our website at hoorfarlaw.com to schedule an appointment.