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Ruby Tuesday announces layoffs, sale of headquarters

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Ruby Tuesday took more dramatic steps on Thursday to improve the casual-dining chain’s fortunes, announcing corporate layoffs and the sale of the company’s Maryville, Tenn., headquarters.

The franchisor told local media that 19 corporate positions would be eliminated as a result of closing a corporate restaurant support center, a move it attributed to a decision this summer to shut 95 company-run units.

Ruby said it will be paid $2.8 million for the 400,000-square-foot headquarters building. The sale, to clothing manufacturer Altar’d State, is expected to close next months.

The expected savings from the layoffs was not disclosed.

The moves follow the resignation of JJ Buettgen as Ruby’s CEO. The Wall Street Journal reported last week that Buettgen was asked by the board to tender his resignation. If that assertion is correct, the former Darden and Brinker International employee stands to collect $2.6 million in severance, according to a story in Fortune.


 

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