Started in the early 1970's, the Ruby Tuesday restaurant chain quickly grew to become an international goliath. They had restaurants spanning several countries, employed tens of thousands of people and at its peak, grew to over 900 locations. But ever since their peak in 2007, the chain has seen a quick downfall until their bankruptcy in 2021. So join me today as I look into the rise and fall of this iconic restaurant chain known for their salad bar, Ruby Tuesday.I don't recall Sam of BrickImmortar ever going into this much detail in his now private video. Since that video is now private, it's a good thing Jake Williams created this one. I think it's an improvement. Now all the company needs is Company Man's attention. If that happens, watch for more bar graphs!
Just the same, Jake's video mentions both the loss of business at mall locations and the attempt to rebrand the chain, then added stock buybacks and the purchase of the company by a private equity firm to the timeline. The former is less common, as I've only mentioned it in relation to the Retail Apocalypse for GNC and Bed Bath & Beyond, while I listed a who's who of retail chains gutted by private equity in CNN Business explains retail bankruptcies and how private equity is gutting retail, tales of the Retail Apocalypse and again in Business Insider and CNBC explain the rise and fall of Chuck E. Cheese, a tale of the Retail Apocalypse and pandemic. In this case, private equity seems to have saved the chain, for now.
Stay tuned for comedy tomorrow, when I expect "Stephen Colbert, Seth Meyers, and especially Jimmy Kimmel will run a victory lap as they dunk on his departure while mourning the loss of a great subject for comedy."
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