SUBSEQUENT EVENTS	9 Months Ended
Feb. 28, 2012
SUBSEQUENT EVENTS [Abstract]
SUBSEQUENT EVENTS	NOTE Q – SUBSEQUENT EVENTS Sale-leaseback transactions During March 2012, we completed sale-leaseback transactions of the land and building for eight Company-owned Ruby Tuesday concept restaurants for gross cash proceeds of $17.5 million, exclusive of transaction costs of approximately $0.8 million. Equipment was not included. The carrying value of the properties sold was $13.6 million. The leases have been classified as operating leases and have an initial term of 15 years, with renewal options of up to 20 years. We realized gains on these transactions totaling $3.1 million, which have been deferred and are being recognized on a straight-line basis over the initial terms of the leases. Acquisition of Lime Fresh Mexican Grill Subsequent to February 28, 2012, we initiated the acquisition of certain assets, including seven Lime concept restaurants, the royalty stream from five Lime concept franchised restaurants, and the intellectual property of Lime Fresh Mexican Grill, Inc. and certain of its affiliated companies for $24.0 million. Not to be included in the asset acquisition is one restaurant owned by Lime Fresh Mexican Grill, Inc. which will continue to operate as a franchisee of RTI and four restaurants which will continue to be operated under license by existing franchisees. We expect this transaction to be completed during our fourth quarter of fiscal 2012. Restaurant Closings In the Company's third fiscal quarter, management working closely with the Board of Directors, adopted a plan to close 25 to 27 restaurants during the fourth quarter of fiscal 2012 and 10 restaurants thereafter upon expiration of the leases. The Board of Directors formally approved management's plan at its regular Board meeting on April 4, 2012 As discussed in Note I to the Condensed Consolidated Financial Statements, in addition to impairments recorded for stores which were not part of management's plan, we recorded impairments of $9.6 million during the 13 weeks ended February 28, 2012 associated with restaurants which will be closed. Share-Based Employee Compensation Award On April 4, 2012, in order to assist with employee retention, the Executive Compensation and Human Resources Committee of the Board of Directors approved a special grant of 220,750 time-based restricted shares of common stock to certain employees under the terms of the 2003 SIP. The shares will vest in equal amounts over the next 3 to 5 years.

NOTE Q – SUBSEQUENT EVENTS

Sale-leaseback transactions

During March 2012, we completed sale-leaseback transactions of the land and building for eight Company-owned Ruby Tuesday concept restaurants for gross cash proceeds of $17.5 million, exclusive of transaction costs of approximately $0.8 million. Equipment was not included. The carrying value of the properties sold was $13.6 million. The leases have been classified as operating leases and have an initial term of 15 years, with renewal options of up to 20 years. We realized gains on these transactions totaling $3.1 million, which have been deferred and are being recognized on a straight-line basis over the initial terms of the leases.

Acquisition of Lime Fresh Mexican Grill

Subsequent to February 28, 2012, we initiated the acquisition of certain assets, including seven Lime concept restaurants, the royalty stream from five Lime concept franchised restaurants, and the intellectual property of Lime Fresh Mexican Grill, Inc. and certain of its affiliated companies for $24.0 million. Not to be included in the asset acquisition is one restaurant owned by Lime Fresh Mexican Grill, Inc. which will continue to operate as a franchisee of RTI and four restaurants which will continue to be operated under license by existing franchisees. We expect this transaction to be completed during our fourth quarter of fiscal 2012.

Restaurant Closings

In the Company's third fiscal quarter, management working closely with the Board of Directors, adopted a plan to close 25 to 27 restaurants during the fourth quarter of fiscal 2012 and 10 restaurants thereafter upon expiration of the leases. The Board of Directors formally approved management's plan at its regular Board meeting on April 4, 2012 As discussed in Note I to the Condensed Consolidated Financial Statements, in addition to impairments recorded for stores which were not part of management's plan, we recorded impairments of $9.6 million during the 13 weeks ended February 28, 2012 associated with restaurants which will be closed.

Share-Based Employee Compensation Award

On April 4, 2012, in order to assist with employee retention, the Executive Compensation and Human Resources Committee of the Board of Directors approved a special grant of 220,750 time-based restricted shares of common stock to certain employees under the terms of the 2003 SIP. The shares will vest in equal amounts over the next 3 to 5 years.