The Tennessee-based Ruby Tuesday restaurant chain said Thursday that it would close 95 of its underperforming locations by the end of the year in a move to help cut losses.

The locations to be shut down have not yet been identified.

The Chattanooga area has one Ruby Tuesday restaurant located on SR-153 in Hixson. Other locations are:

  • Athens, TN
  • Tullahoma, TN 
  • Calhoun, GA
  • Ellijay, GA

Ruby Tuesday is based in Maryville, TN, near Knoxville.

Shares of the company fell 10.2 percent in after-hours trading on Thursday after the chain reported a fourth-quarter net loss of $27.6 million, or 46 cents a share, compared with a net gain of $4.3 million, or 7 cents a share, in the same quarter last year.

The company said that employees displaced from the closed properties would be offered positions in nearby locations, when possible.

Ruby Tuesday said it had a total of 724 locations as of May 31.

"The decision to close restaurants is a difficult but necessary step as we take aggressive actions to strengthen our organization," JJ Buettgen, the CEO, said in a news release.

"Performance at each of these locations, despite the loyalty of valued guests and the efforts of our dedicated employees, was not meeting expectations," he said.

Total revenue dropped 5.9 percent during the company's fourth quarter, to $279.3 million.