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Ruby Tuesday, a casual restaurant chain owned by NRD Capital Management, filed for Chapter 11 bankruptcy protection. 

Why it matters: It highlights how restaurants continue to be in crisis, with little federal help on the horizon. Not just casual chains like Ruby Tuesday, which was already struggling pre-pandemic, but also independent joints that had been hoping for help via a federal stimulus that President Trump just bailed on.

Ruby Tuesday files for Chapter 11 bankruptcy

Restaurants continue to be in crisis with little federal help on the horizon.

Business

Bankruptcy

Ruby Tuesday, a casual restaurant chain owned by NRD Capital Management, filed for Chapter 11 bankruptcy protection. Why it matters: It highlights how restaurants continue to be in crisis, with little federal help on the horizon. Not just casual chains like Ruby Tuesday, which was already struggling pre-pandemic, but also independent joints that had been hoping for help via a federal stimulus that President Trump just bailed on.

After a record economic expansion, the coronavirus pandemic sent the U.S. economy into a recession as unemployment soared to staggering heights. The country now faces urgent questions about how much stimulus is needed for reeling consumers and businesses, and what a recovery might look like.

Ruby Tuesday files for Chapter 11 bankruptcy

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