Ruby Tuesday files for bankruptcy

Photo courtesy of MGN

Restaurant chain Ruby Tuesday has filed for bankruptcy.

In a letter dated October 7, Ruby Tuesday’s CEO Shawn Lederman said that existing Ruby Tuesday locations will remain open and gift cards and rewards will remain valid and retain their value.

Ruby Tuesday filed for Chapter 11 bankruptcy protection on Wednesday in order to reduce debt but continue restaurant operations.

The chain has closed about 200 locations over the past few years, according to CNN.

The letter did not say if additional locations will close as a result of the bankruptcy filing.

Ruby Tuesday has a location in Warsaw on East Center Street.

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