Ruby Tuesday’s Reorg Plan Approved, Keeping 210 Restaurants Open

Ruby Tuesday’s bankrupt parent won court approval of its Chapter 11 reorganization plan after resolving last-minute objections from its landlords over how the plan would affect their leases.

The amended plan approved Wednesday transfers equity in the company to two of its secured lenders, units of TCW Group Inc. and Goldman Sachs Group Inc.

TCW will assume a majority ownership stake in the restaurant business and will manage 210 Ruby Tuesday restaurants that will remain open. Goldman Sachs will get an indirect ownership interest in the RT Lodge, a restaurant and corporate event venue located on the campus of Maryville ...