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Massey Properties buys Ruby Tuesday headquarters for $2.6 million

The building was entered into the register of deeds in Blount County on Jan. 26, according to records. Ruby Tuesday is staying on the property.
Ruby Tuesday

Ruby Tuesday's headquarters was sold in late January, according to records, after the company declared bankruptcy. It is now owned by Massey Properties, a Tennessee limited liability company.

The property is located at 333 East Broadway Avenue in Maryville, according to records. It was sold at $2.6 million, according to documents. Despite the sale, Ruby Tuesday is not leaving the property immediately. 

Instead, the restaurant will pay rent to Massey Properties. They can take up to six months to leave the building and move to a nearby location, according to records. Ruby Tuesday will also need to maintain insurance coverage for the property.

The sale was overseen by the Delaware Bankruptcy Court because the restaurant and its parent company, RTI Holding Company, is currently in bankruptcy.

Since they declared bankruptcy, officials approved Ruby Tuesday to sell some of its assets to make up some of its debt, including the Maryville property. 

Information about what Massey Properties' plans to do with the purchase was not immediately available.