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Ruby Tuesday Plans No New Units

MARYVILLE, TN-The restaurant chain is closing about 14 locations this year and has 30 to 35 units for sale.

By Debra Hazel | Updated on July 08, 2009

MARYVILLE, TN-Ruby Tuesday will focus on improving its existing restaurants this year, forgoing opening new units, executives said at the company’s fourth quarter conference call.

The company does not plan to plan to open any company-owned restaurants in fiscal 2010 and expects to close approximately 14 units as part of a previously announced plan to close 30 restaurants over the next few years as leases expire. Franchisees will open six restaurants, five of them international. Approximately 30 to 35 units are earmarked for sale.

“We don’t need to [open new restaurants] to increase company earnings and returns,” said Sandy Beall, founder and CEO. “We want more traffic in our restaurants.”

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