Specialty Restaurant Group
Specialty Restaurant Group was a privately owned U.S. casual-dining company that operated several restaurant chains acquired from Ruby Tuesday before sharply downsizing and entering Chapter 11 bankruptcy in 2007.
Last updated August 31, 2026
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History
Specialty Restaurant Group emerged from a 2000 transaction involving Ruby Tuesday and a group of investors that included former Ruby Tuesday employees. Rather than creating a single new restaurant brand, the investors acquired four existing concepts: The American Café, Silver Spoon Café, L&N Seafood Grill, and Tia's Tex-Mex. The new company, organized as Specialty Restaurant Group, LLC, became the owner or operator of these nameplates and pursued a multi-brand casual-dining strategy. James CarMichael, identified as SRG's chief executive, was credited with leading the buyout. The company's operating structure resembled that of other U.S. casual-dining groups: individual restaurant concepts retained their own names and market identities while being managed by a common corporate organization. At one point SRG operated more than 40 restaurants. The concepts covered broad American casual dining, seafood, and Tex-Mex, giving the company access to several customer segments while also requiring it to support multiple menus and brand positions. SRG did not immediately sever its connection with Ruby Tuesday. For approximately seven years after the divestiture, it maintained its corporate headquarters within Ruby Tuesday's worldwide headquarters. It also operated from restaurant properties subleased from Ruby Tuesday. This arrangement provided continuity after the buyout but created ongoing lease and corporate ties between the two companies. In 2004, SRG sold Tia's Tex-Mex and all of the locations then operating under that name to Maplewood Partners, LP. The transaction was a portfolio divestiture and reduced SRG's operating footprint. The remaining concepts later identified in connection with the company were The American Café, Silver Spoon Café, and L&N Seafood Grill. The company's most significant contraction occurred in January 2007. On January 2, SRG suddenly closed 20 remaining restaurants: 18 American Café sites, one Silver Spoon Café site, and the only remaining L&N Seafood Grill restaurant. The closures effectively removed most of the restaurants associated with the company and surprised some local managers and employees. During the same week SRG ended its relationship with Ruby Tuesday and moved its corporate headquarters from Ruby Tuesday's offices. Contemporary accounts also noted that some closed restaurant properties had been subleased from Ruby Tuesday. On February 20, 2007, SRG sought Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of Texas. Its filing listed assets and liabilities in the range of $10 million to $50 million. Reported debts included an $11.2 million bank loan, $2.5 million owed to the Internal Revenue Service, and $700,725 owed to Ruby Tuesday. Ruby Tuesday separately disclosed that SRG had been late or in default on lease payments for at least 17 subleased restaurants and expected to record a related charge, although it anticipated the actual amount would be materially below the remaining scheduled lease payments of $6.1 million. In a letter to creditors, CarMichael characterized the bankruptcy filing as a difficult decision taken on the advice of legal and financial advisers. The supplied reference material does not document the result of the Chapter 11 case, a later restructuring, liquidation, or the emergence of a successor business. SRG's current status therefore cannot be confirmed from the available material.
- 2007
Large-scale restaurant closures and headquarters move
[1]SRG closed 20 restaurants on January 2 and ended its seven-year relationship with Ruby Tuesday, moving its headquarters from Ruby Tuesday's offices.
- 2007
Chapter 11 bankruptcy filing
[1]The company filed for Chapter 11 reorganization in the Northern District of Texas on February 20.
- 2004
Tia's Tex-Mex divested
[1]SRG sold the Tia's Tex-Mex concept and all existing Tia's locations to Maplewood Partners, LP.
- 2000
Company formed through acquisition of four restaurant concepts
[1]A group of investors, including former Ruby Tuesday employees, purchased The American Café, Silver Spoon Café, L&N Seafood Grill, and Tia's Tex-Mex from Ruby Tuesday and established Specialty Restaurant Group.
Products and positioning
A multi-concept U.S. casual-dining operator managing regional restaurant chains under separate nameplates.
Casual dining restaurant chain
The American Café
The American Café was one of the four restaurant concepts acquired when SRG was created in 2000. It was the largest component of the January 2007 shutdown, when 18 American Café locations were closed. The available material identifies the chain as a casual-dining operation but does not provide a detailed menu, geographic footprint, or later ownership history.
Casual dining restaurant chain
Silver Spoon Café
Silver Spoon Café was acquired by SRG from Ruby Tuesday in 2000 and operated as one of the group's casual-dining nameplates. One remaining Silver Spoon Café restaurant was among the 20 SRG locations closed on January 2, 2007. Further information about the concept's menu and subsequent corporate history is not established by the supplied references.
Seafood casual dining restaurant
L&N Seafood Grill
L&N Seafood Grill was SRG's seafood-oriented restaurant concept and one of the four chains obtained from Ruby Tuesday at the company's formation. By January 2007, only one L&N Seafood Grill restaurant remained, and that location was closed along with the other SRG shutdowns.
Tex-Mex casual dining restaurant chain
Tia's Tex-Mex
Tia's Tex-Mex was one of the restaurant concepts acquired from Ruby Tuesday in 2000. SRG later sold the brand and all of its existing locations to Maplewood Partners, LP, in 2004. It was therefore no longer part of the SRG portfolio during the company's final documented contraction in 2007.
Brand decisions
2007
Closure of 20 restaurants and separation from Ruby TuesdayStrategyBackground
SRG faced a sharply reduced operating footprint and continuing obligations associated with restaurant properties subleased from Ruby Tuesday.
Action taken
On January 2, SRG closed 18 American Café restaurants, one Silver Spoon Café restaurant, and its only remaining L&N Seafood Grill restaurant. It also moved its headquarters out of Ruby Tuesday's offices.
Aftermath
The closures represented a major contraction and were followed weeks later by SRG's Chapter 11 filing.
- Ruby Tuesday — Ruby Tuesday acknowledged the closures and said it had no immediate plans for the affected space.
2007
Chapter 11 reorganizationOtherBackground
SRG reported substantial debts, including obligations to a bank, the IRS, Ruby Tuesday, and other creditors.
Action taken
The company filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Northern District of Texas on February 20.
Aftermath
The available references do not establish whether SRG successfully reorganized, liquidated, or continued under a successor structure.
Reported debts. $11.2 million bank loan; $2.5 million owed to the Internal Revenue Service; $700,725 owed to Ruby Tuesday (February 2007 bankruptcy filing)
- Ruby Tuesday — Ruby Tuesday disclosed lease-payment defaults involving at least 17 restaurants subleased to SRG and anticipated a related charge.
2004
Divestiture of Tia's Tex-MexM&ABackground
SRG had acquired Tia's Tex-Mex as part of its 2000 purchase of four restaurant concepts from Ruby Tuesday.
Action taken
The company sold Tia's Tex-Mex and all existing locations to Maplewood Partners, LP.
Aftermath
Tia's Tex-Mex left the SRG portfolio, narrowing the company's collection of operating concepts.
Recent events
- 2007
Specialty Restaurant Group closes 20 restaurants[1]
Other · Leadership change
On January 2, SRG closed 18 American Café restaurants, one Silver Spoon Café restaurant, and its only remaining L&N Seafood Grill location. The company also ended its corporate relationship with Ruby Tuesday and relocated its headquarters.
- 2007
Specialty Restaurant Group files for Chapter 11 bankruptcy[1]
Bankruptcy
SRG filed for Chapter 11 reorganization in the Northern District of Texas after reporting substantial liabilities to lenders, the IRS, Ruby Tuesday, and other creditors.
- 2007
Ruby Tuesday reports SRG lease-payment defaults[1]
Bankruptcy · Other
Ruby Tuesday disclosed that SRG had defaulted or been late on rent for at least 17 restaurants subleased from Ruby Tuesday, leading Ruby Tuesday to anticipate a charge connected with those leases.
- 2004
Specialty Restaurant Group sells Tia's Tex-Mex concept[1]
M&A
SRG divested the Tia's Tex-Mex concept and all of its existing locations to Maplewood Partners, LP.
Sources1 sources
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