Business

July 23, 2008

Goodbye, Ruby Tuesday eatery in W-B

By Jerry Lynott jlynott@timesleader.com
Business Writer
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WILKES-BARRE – After 15 years, the Ruby Tuesday restaurant on Kidder Street closed Monday.

Signs taped inside the front entrance of the restaurant in the Triangle Plaza thanked patrons and directed them to other locations in Moosic and Dickson City.

A company spokeswoman said the closing was related to the expiration of the lease on the property.

“We chose not to renew the lease,” said Sandi Stablein director of communications for the restaurant chain based in Maryville, Tenn.

In its financial statement for the fourth quarter released earlier this month, the publicly traded company said it would close approximately 15 company-owned restaurants when their leases expire. As of December 2007, there were approximately 950 restaurants.

Quarterly results for the period that ended June 3 showed a drop in net income to $13.9 million compared to $24.7 million during the same period in 2007. Same-restaurant sales for company-owned and domestic franchises also decreased during the quarter.

The average check increased by 2 cents for the quarter, which exceeded the company’s goal of a flat average, the company said.

The local restaurant opened in 1993, was owned by the company and was the first Ruby Tuesday in Northeastern Pennsylvania and one of the first casual dining chain restaurants in the region.

The lease was to expire within the next few weeks and it is standard procedure to close before the expiration date, Stablein said.

Severance was offered to qualified employees, she added.

Jerry Lynott, a Times Leader staff writer, can be contacted at 570 829-7237.

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