Maryville, Tenn. — Ruby Tuesday Inc. has filed for Chapter 11 bankruptcy protection with plans to permanently close 185 restaurants that were shuttered during the COVID-19 pandemic. The company’s 236 open locations will remain operational throughout the reorganization process. The Maryville, Tennessee-based chain is the latest restaurant group to fall victim to the economic pressures caused by the coronavirus pandemic. California Pizza Kitchen filed for Chapter 11 protection in July citing similar struggles. “This announcement does not mean ‘Goodbye, Ruby Tuesday’ — this is ‘Hello, to a stronger Ruby Tuesday’,” …
Ann Arbor, Mich. — Domino’s Pizza Inc. reported that its U.S. same-store sales grew 17.5 percent in the third quarter compared with the same period last year. The Ann Arbor-based pizza chain says it was positively impacted by customers ordering more takeout during the COVID-19 pandemic. Global retail sales increased by 14.4 percent in the third quarter to more than $3.7 billion. Revenues increased $146.9 million or 17.9 percent, while net income increased $12.8 million or 14.8 percent. As of Oct. 5, Domino’s estimates that fewer than 300 international stores …
O’Fallon, Ill. — Knoebel Construction has completed building a new Drake’s restaurant in O’Fallon near St. Louis. The 6,014-square-foot restaurant and entertainment venue features two full-service bars and a covered patio. Drake’s, an entity of parent company Bluegrass Hospitality Group, is a Kentucky-based chain with 15 locations across the Midwest and Southeast. The restaurant offers more than 20 craft beers on tap as well as sandwiches, salads, burgers and sushi. Drake’s says it is closely following government guidelines for reopening during COVID-19 and working alongside state and local officials to …
Orlando, Fla. — Darden Restaurants Inc. (NYSE: DRI) has reported its sales fell 28.4 percent in its fiscal first quarter, which ended Aug. 30. The Orlando-based company owns restaurant brands including Olive Garden, LongHorn Steakhouse, Cheddar’s Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze and Eddie V’s. Darden reported that sales in its fine dining restaurants fell 38.9 percent year-over-year. Sales at Olive Garden slid 27.7 percent, while LongHorn saw a decrease of 16.3 percent. At the beginning of its first quarter, Darden had 68 percent of …
Columbus, Ohio — LemonShark Poké & Makai Grill is opening its first Ohio restaurant at Easton Town Center in Columbus. The Hawaiian-themed establishment, which offers sushi, hibachi-style grilled meats and seafood, is scheduled to open in late fall. A staple of Hawaiian cuisine, Poké incorporates variations of marinated seafood typically over sticky rice with vegetables and sauces. Guests at the restaurant will also enjoy a bar and island-themed drinks. Developed by The Georgetown Co., L Brands and Steiner + Associates, Easton Town Center is a component of the larger Easton, …
Woodbury, N.Y. — Development and management firm RD Management will open a 1,923-square-foot food hall at Harriman Commons, its 706,230-square-foot retail power center in Woodbury, about 55 miles north of New York City. The food hall will also offer a 3,300-square-foot outdoor dining terrace. Anchor tenants at the center include Walmart, Home Depot and Target. An opening date was not released.
Louisville, Ky. — Papa John’s International Inc. has announced it will open a new global headquarters in metro Atlanta by summer 2021. The Louisville-based pizza chain is in the process of picking an office space and expects to have a location finalized by the end of this year. Georgia Gov. Brian Kemp’s office says the move is expected to bring 200 jobs to the area. Papa John’s will move its menu innovation; marketing; customer experience; human resources; diversity, equity and inclusion; communications; and development departments to Georgia. IT, supply chain …
Louisville, Ky. — Papa John’s International (NASDAQ: PZZA) has signed a store development agreement that will allow the Louisville-based pizza chain to open 49 new stores in the Philadelphia and Southern New Jersey areas between 2021 and 2028. Franchisee HB Restaurant Group, which currently owns and operates 43 Papa John’s locations in the mid-Atlantic, will also own and operate the new stores.
Webinar: Las Vegas Retail Outlook — How is the Las Vegas Retail Sector responding to COVID-19? hosted by Shopping Center Business and Western Real Estate Business, covers the approaches taken by an expert panel of retail leaders responding to COVID-19. Watch Webinar: Las Vegas Retail Outlook — How is the Las Vegas Retail Sector responding to COVID-19? to learn what retailers, restaurants, and developers need to thrive and what our panelists anticipate for retail in the near future. See a list of some topics covered below. How significantly has decreased tourism affected …
(Panelists, top, left to right): Ralph Conti, RaCo Real Estate Advisors; Cindy Schooler, SRS Real Estate Partners; Chuck Whittall, Unicorp National Developments. Shopping Center Business and Southeast Real Estate Business hosted “Central Florida Retail Outlook: How are Central Florida Markets Responding to COVID-19?” Watch to hear how the retail leaders are adapting to the challenges of COVID-19 and its fallout for tourism and travel. See a list of some topics covered below: To what extent has tourism declined in Central Florida this year — and how significantly has that affected the retail …