Ruby Tuesday to close 95 restaurants

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

MARYVILLE, Tenn. -- Restaurant chain Ruby Tuesday has announced it will close 95 underperforming restaurants by September, according to a news release by the company.

The company has not identified which of its 724 restaurants will close. The chain has eight restaurants in Colorado, including four in the Denver metro.

The chain said employees impacted by closures will be offered positions in nearby restaurants where possible.

"The decision to close restaurants is a difficult but necessary step as we take aggressive actions to strengthen our organization," Ruby Tuesday CEO JJ Buettgen said in a release.

"Performance at each of these locations, despite the loyalty of valued guests and the efforts of our dedicated employees, was not meeting expectations."

The company said total revenue dropped 5.9 percent during the company's fourth quarter, to $279.3 million.

AlertMe