CADILLAC — Rumors circulated through various social media platforms Monday after a number of false reports came out saying that Ruby Tuesday in Cadillac would be closed as part of the company's bankruptcy reorganization.
Business Insider was the first to report that the Cadillac location would be closing, along with about 150 others (some of which have been closed since January), as a result of economic impacts from the COVID-19 pandemic.
The Cadillac News reached out to the Cadillac store to confirm the report but management said they could not comment and referred all questions to the restaurant’s corporate structure.
In response to an email asking if the rumor was true, Jenifer Boyd Harmon, chief marketing officer for Ruby Tuesday, said the Cadillac location would not be closing down.
"We do not anticipate any additional restaurant closures at this time," Harmon said. "We remain committed to providing our guests with safe, quality experiences at all our current locations."
According to Business Wire, Ruby Tuesday announced on Oct. 7 that it filed a voluntary petition for reorganization under Chapter 11 of the Bankruptcy Code. Prior to its filing, the company reached an understanding with its secured lenders to support its restructuring through financing and an agreement regarding the terms of a plan that will provide a sustainable path forward for the restaurant chain.
The casual dining favorite plans to use this filing to strengthen its business by reducing liabilities and emerge a stronger organization built for the future. The company intends to move through the bankruptcy process as quickly as possible. Its restaurants will continue to operate “business as usual” throughout the reorganization process.
“This announcement does not mean ‘Goodbye, Ruby Tuesday,'" said Shawn Lederman, Ruby Tuesday’s CEO. "Today’s actions will allow us an opportunity to reposition the company for long-term stability as we recover from the unprecedented impact of COVID-19. Our restructuring demonstrates a commitment to Ruby Tuesday’s future viability as we work to preserve thousands of team member jobs. Our guests can be assured that during the Chapter 11 process, we will continue to deliver welcoming service and provide a safe environment for guests and team members, while serving fresh, signature products that only Ruby Tuesday can offer. With this critical step in our transformation for long-term financial health — this is ‘Hello’, to a stronger Ruby Tuesday.”