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🠈  Ruby Tuesday  🠊

Ruby Tuesday

Ruby Tuesday is a nationwide restaurant chain that was created in 1972 by Samuel E. Beall, III. The first location was by the University's Knoxville campus in Tennessee. The restaurant was named after a song by the Rolling Stones.

The company had 16 restaurants when it was acquired in 1982 by Morrison's which owned cafeterias and had hospital contracts. Beall stayed on as the manager of the restaurant division which expansed both the "Ruby Tuesday" line and developed other restaurants concepts.

In 1992, Morrison's split into three companies. Morrison Health Care handled the hospital contracts, Morrison's Fresh Cooking Inc. and a newly formed Ruby Tuesday Inc. led by Beall took over the restaurants.

Ruby Tuesday, Inc had several secondary brands which it sold to Speciality Restaurant Group. Both SPG and Morrison Fresh Cooking would go bankrupt.

In 2007, Ruby Tuesday began experimenting with new restaurant concepts again. They acquired and rolled a number of themed restaurants with names like "Jim 'N Nick's BBQ," "Wok Hay," "Marlin and Rays," "Lime Fresh Mexican Grill," and "Truffles Grill."

In 2008 the company staged a viral video in which they blew up the wrong restaurant (see below). This was supposed to go viral and tell the world about a remodeling of the stores. The video is fake. They blew up a model. It did not go over well and the company floundered for a bit.

Beall retired in 2012. The company closed or sold off the smaller chains. In October 2017, Ruby Tuesday was acquired by NRD Capital.

NRD Capital grew from a single KFC franchise started by Aziz Hashim for the 1996 Atlanta Olympics. He quickly acquired over 90 franchised restaurants before the recession. To motivate workers Hashim would give managers a stake in the franchise.

During the recession he realized he could manage risk if he owned franchise companies along with franchises. He acquired Frisch's Big Boy, and Fuzzy's Taco Shop.

NRD Capital presents a complex ownership model in which franchisees own part of the franchisors while managers own part of their franchise.

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