Last November, Hops Restaurant closed its doors after seeing a dramatic decline in business.
Thursday, Jim Maroney of Simms Reality said Ruby Tuesday, Inc. completed the purchase of the old Hops restaurant for $700,000.
Ruby Tuesday plans to demolish the current building next week, and rebuild a new 4,500 sq. ft. restaurant in its place. The new restaurant should be completed by the first of June.
Ruby Tuesday, Inc. is a publicly-traded corporation under the stock symbol "RI" and operates 600 company-owned and privately franchised restaurants across the nation. Ruby Tuesday, Inc. plans for aggressive growth in the future, expecting to open another 1,000 restaurants.
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