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Log In / Register | Apr 16, 2014

Ruby Tuesday Says It Isn’t Selling

Ruby Tuesday neon sign
photo by BMM

MARYVILLE, Tenn. – Business news journals Debtwire, Nation's Restaurant News and others reported early this week that Ruby Tuesday had hired Goldman Sachs to "evaluate strategic alternatives." In other words, the chain with 75 franchises and 703 company-owned restaurants was supposedly looking to sell the company.

On Thursday Ruby Tuesday issued this response to market rumors:

"The Company is aware of recent media reports suggesting it has hired Goldman Sachs to evaluate strategic alternatives. While it is our practice not to respond to market rumors and speculation, we believe it is important to clarify that this rumor did not originate from Ruby Tuesday. Ruby Tuesday's management and teams are committed to the Company's previously-disclosed strategic plans and remain confident in our brand transformation strategy and in our team's ability to successfully execute our plans."

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