Private equity firm NRD Capital announced the closing of its acquisition of Ruby Tuesday by a fund managed by NRD. In conjunction with the acquisition, Ruby Tuesday entered into a new credit facility agented by Goldman Sachs Specialty Lending.
Restaurant chain Ruby Tuesday amended its 364-day senior secured revolving credit agreement dated as of May 26, 2017 with, among other parties, UBS AG, Stamford Branch, as administrative agent and as issuing bank.
Creating Brand Relevancy: Wooing Millennials, Personalizing Service to Turnaround Casual Dining Chains
For more than a decade, casual dining chains like Applebee’s and Ruby Tuesday thrived, catering to baby boomers and their families. Now, a different sort of customer has emerged, and CD restaurants are struggling to maintain brand relevancy. Nishant Machado offers suggestions for CD management, lenders and turnaround pros serving the industry.
Ruby Tuesday entered into a new $20 million 364-day senior secured revolving facility with USB, Stamford Branch, replacing its four-year revolver administered by Bank of America.
Ruby Tuesday entered into a four-year revolver under which the company may borrow up to $50 million, replacing a previous $200 million facility. Bank of America served as administrative agent and issuing bank.