Struggles continue for Ruby Tuesday: The casual dining chain announced last week it was selling its Maryville, TN, headquarters for $2.8 million as part of a corporate restructuring. It’s also consolidating its Restaurant Support Center and laying off 19 members of that team, according to reports.
Ruby Tuesday, which owns and franchises Ruby Tuesday brand restaurants, had announced in August that it would close 95 units. A few weeks later, the chain’s president/CEO James J. “JJ” Buettgen resigned and was replaced by board member Lane Cardwell in the interim. The board of directors has retained executive search firm Heidrick & Struggles to find a permanent president to lead Ruby Tuesday.
Founded in 1972 by Sandy Beall, the concept has since expanded to include 615 Ruby Tuesday restaurants in 42 states, 14 foreign countries and Guam as of August. The chain has seen declining sales and share prices since the start of the financial crisis.