It's been a bad week for well-known American institutions.

Ruby Tuesday has announced it's closing 95 of its restaurants. It's not yet clear which of the eateries will be going under, but that should be known very soon, since they are expected to shut down in September.

There are currently 724 Ruby Tuesdays in the country. As part of its reorganization, the company hopes to bring in more women and young families as it seeks to "return to positive same-restaurant sales, expand restaurant level margins, and increase operating profit.”

The announcement comes one day after Macy's announced it plans to close 100 stores.

The decision to close multiple Ruby Tuesdays shouldn't come as that much of a shock. Last month, several of them in Illinois were shuttered -- some rather unexpectedly

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