<P> Their flagship brand is an American cuisine casual dining restaurant chain that is primarily located along the eastern coast of the United States . In 2016, Ruby Tuesday sold the rights to the Lime Fresh Mexican Grill to an undisclosed buyer in an attempt to refocus on the main Ruby Tuesday brand . The company has closed all locations of Wok Hay and Marlin and Ray's . Additionally, they hold development rights to Truffles Grill . </P> <P> On June 6, 2012, founder and CEO Sandy Beall announced he would be leaving the company . In October 2017, it announced that NRD Capital Management would be taking the company private through a $146 million deal in early 2018 . </P> <P> The restaurant's name was derived from The Rolling Stones song, "Ruby Tuesday", which was popular during the time of the first restaurant's inception . The name was suggested to founder Sandy Beall by Bob Hope . </P> <P> Ruby Tuesday was born out of a $10,000 endowment Sandy Beall had received from a friend and operator of several Pizza Huts to open his own restaurant . With that money, and another $10,000 put together with four of his University of Tennessee fraternity brothers, the first Ruby Tuesday restaurant was opened in 1972 . The location was adjacent to the University's Knoxville campus, and although the building still stands, the restaurant has since closed . </P>

Is ruby tuesday restaurant named after the song