Fri
Dec 19 2008
03:29:pm

Ruby Tuesday will close about 70 locations

Ruby Tuesday announced it will incur costs of close to $70 million in 2009 tied to about 70 restaurant closures and declining sales.

Additionally, Ruby Tuesday said it will record a pre-tax, non-cash goodwill impairment charge in the second quarter of about $19 million. The company cites, in part, “poor overall economic conditions, declining sales at company-owned restaurants and “a challenging environment for the restaurant industry.”

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