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Ruby Tuesday was born out of a $10,000 endowment Sandy Beall had received from a friend and operator of several Pizza Huts to open his own restaurant. [citation needed] Beall took the name from The Rolling Stones song "Ruby Tuesday", after a suggestion by one of several fraternity brothers who were co-investors. [11]
Its effort to diversify into non-dining businesses in the 1960s was less successful, and those enterprises were sold off in the early 1980s by new management. In 1982, Morrison's acquired the 15-unit Ruby Tuesday chain. It used this acquisition to launch other casual dining concepts, such as L&N Seafood Grill, Silver Spoon Café, Mozzarella's ...
Specialty Restaurant Group was created in 2000, when a group of investors bought the four restaurant chains from Ruby Tuesday. The investors, who were former employees of Ruby Tuesday, included the company's current CEO, James CarMichael, who is credited with having led the buyout from Ruby Tuesday.
A Kura Revolving Sushi Bar in Orlando, Florida, in September 2022. - Paul Hennessy/Anadolu Agency/Getty Images
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TGI Friday's went from a casual dining chain generating $2 billion in annual revenues to another victim of the 2024 restaurant bankruptcy ... and Ruby Tuesday. So maybe it's no surprise that those ...