Ruby Tuesday

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Ruby Tuesday goes private

Ruby Tuesday (+18.59%) said “Thank God it’s Friday” this Monday when PE shop NRD Capital Management agreed to take the casual dining chain private. It’ll sell for around $146 million…or about 7.3 million baby back ribs. 

Over the last two years, Tuesday’s had been closing up shop, bringing its total restaurant count down from 736 to 599. It can thank a menu of cheaper and faster competitors, like Shake Shack and Chipotle, which have been crippling the restaurant’s top line since 2012. But after nine straight quarters of recording a net loss, it finally found a buyer with a big enough appetite.