Restaurants & Bars
Ruby Tuesday Closes Toms River Location
The restaurant closure comes as the company plans to sell off assets as part of its bankruptcy protection filing.
TOMS RIVER, NJ — Ruby Tuesday, which has filed for Chapter 11 bankruptcy protection, has closed its Toms River location.
The company filed for bankruptcy protection in October, and in November its plan to sell off assets was approved, according to court filings.
The phone number for the Toms River location, in the Orchards at Dover shopping center on Route 37 near the Manchester border, has been disconnected.
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The Toms River location was just the latest in the area to close; the company closed its restaurant on Route 70 on the Brick/Lakewood border in May. The company, which opened its first restaurant in 1972, has been struggling for years; in 2016, it announced the closure of 90 locations out of more than 700.
There are about 250 locations still in business, according to the Ruby Tuesday website, including just four in New Jersey, in Mount Laurel, Elizabeth, Somerset, and at Newark Liberty International Airport.
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"After careful consideration, we decided to close the Toms River, NJ location in an effort to better position our restaurants for future business," said Jenifer Boyd Harmon, chief marketing officer, told the Asbury Park Press, which first reported the closure.
"Prior to its filing, the Company reached an understanding with its secured lenders to support its restructuring through financing and an agreement regarding the terms of a plan that will provide a sustainable path forward for the restaurant chain," the company said in the bankruptcy filing announcement signed by CEO Shawn Lederman.
"We plan to use this filing to strengthen our business by reducing liabilities and reposition the Company to emerge a stronger organization built for the future. We intend to move through the process as quickly as possible," the announcement said.
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