Ruth's Chris Steak House facts for kids
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Formerly
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Chris' Steak House (1927–1976) |
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| Subsidiary | |
| Industry | Restaurants |
| Founded | 1927 in Broad Street, New Orleans, Louisiana |
| Founder | Ruth Fertel, Chris Matulich |
| Headquarters | Winter Park, Florida |
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Number of locations
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100+ steakhouses |
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Area served
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United States (including Puerto Rico) Canada Aruba Panama Mexico Singapore China Indonesia Japan Taiwan Hong Kong Philippines |
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Key people
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Cheryl Henry (CEO) |
| Products | Food service |
| Revenue | US$468 million (FY 2019) |
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Number of employees
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5000+ (2020) |
| Parent | Darden Restaurants |
Ruth's Chris Steak House is a popular chain of over 100 steakhouse restaurants. You can find them in the United States, Canada, and Mexico. In 2008, the company joined Ruth's Hospitality Group. This group's main office is in Winter Park, Florida.
Contents
How It All Started
Chris' Steak House: The Early Years (1927–1965)
The first restaurant was called Chris' Steak House. It was started by Chris Matulich in New Orleans, Louisiana, on February 27, 1927. The restaurant was small, seating only 60 people. It was located near the Fair Grounds Race Course. Chris Matulich owned the restaurant for 38 years. During this time, he sold it six times. Each time, the new owners struggled, and Chris bought the restaurant back for a low price.
Ruth Fertel Takes Over (1965–1999)
Ruth Buys the Restaurant in 1965
In 1965, a single mom named Ruth Fertel needed money. She wanted to send her teenage sons to college. Even though her friends and advisors told her not to, Ruth bought Chris' Steak House. She used family recipes and ideas from her brother's restaurant. Ruth needed $18,000 to buy the place. She then realized she needed another $4,000 for repairs and food. On her first day, May 24, 1965, she sold 35 steaks. Each steak cost $5. Ruth was very involved in running the business. For many years, her restaurant was special because it had an all-female wait staff.
A New Name: Ruth's Chris Steak House (1976)
In 1976, a fire destroyed the original restaurant building. Ruth had just signed a new ten-year lease. Luckily, she had another property nearby. She quickly moved the restaurant to this new spot. It was only a few blocks away. The new location was bigger, with 160 seats. The agreement when she bought the restaurant said she couldn't use the name "Chris' Steak House" at a different address. So, she added her own name to it. This is how it became Ruth's Chris Steak House. Ruth later said she "always hated the name," but it worked out!
Growing Bigger with Franchises (1976–1999)
The first franchised restaurant opened in 1977. A loyal customer named Thomas J. "T. J." Moran opened it in Baton Rouge. Franchising means other people can open restaurants using the same name and recipes. Ruth said that all their franchisees were people who had eaten at her restaurants. The chain grew quickly. By 1998, there were 66 locations in the U.S. and other countries.
New Owners and Going Public (1999–Present)
Madison Dearborn Takes Over (1999–2005)
In 1999, Ruth Fertel was 72 years old. She sold most of her company to an investment firm called Madison Dearborn Partners. Ruth remained a shareholder until she passed away in 2002. During this time, the restaurant chain continued to grow. It reached 86 restaurants, including 10 overseas.
Becoming a Public Company (2005)
On August 9, 2005, Ruth's Chris Steak House became a public company. This means its shares can be bought and sold on the stock market. This helped the company raise money to grow even more.
Moving Headquarters to Florida (2005)
In August 2005, Hurricane Katrina caused a lot of damage in New Orleans. Because of the storm, the company moved its main office to Heathrow, Florida. Two of its New Orleans restaurants had to close. One of them, in Metairie, later reopened. The original Broad Street location was too damaged to reopen. It was given to Tulane University. In 2012, the university opened a health center there. In 2008, Ruth's Chris opened a new restaurant in downtown New Orleans. In 2011, the main office moved again to its current spot in Winter Park, Florida.
More Growth and Changes
In 2008, the company bought Mitchell's Fish Restaurant and Columbus Fish Market brands. This helped them expand their restaurant group. The company changed its name to Ruth's Hospitality Group (RHGI). This allowed each restaurant brand to have its own identity. The company kept adding new restaurants. For example, new locations opened in Las Vegas, Denver, and Albuquerque, New Mexico. In 2018, a new restaurant opened at the Silver Legacy in Reno, Nevada.
During the COVID-19 Pandemic
During the coronavirus pandemic, Ruth's Hospitality Group received some government loans. These loans were meant to help small businesses. After some discussion, the company decided to return the money to the government.
Joining Darden Restaurants (2023)
On May 3, 2023, Darden Restaurants announced it was buying Ruth's Hospitality Group Inc. This means Ruth's Chris Steak House is now part of the Darden Restaurants family.
Images for kids
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Ruth's Chris Steak House logo
