INSIDER
On May 31, all Luby’s stockholders will automatically receive a distribution of one liquidating trust unit for each common share held.
Fuddruckers is back and adding restaurants to five malls across Texas, including North Star Mall in San Antonio.
:strip_exif(true):strip_icc(true):no_upscale(true):quality(65)/cloudfront-us-east-1.images.arcpublishing.com/gmg/JCUO3SV66ZDIBHDIBPNNOYDSXY.jpg)
SAN ANTONIO – The Texas restaurateurs behind Pappadeaux Seafood Kitchen and Pappasito’s Cantina could swoop in and save Luby’s, which earlier this month announced it would liquidate and dissolve the company. Luby’s Inc. owns Luby’s Cafeteria and Fuddruckers. The document states Christopher Pappas has served as the president and chief executive officer of Luby’s since 2001. Both are owners of Houston-based Pappas Partners, L.P. and Pappas Restaurants Inc., which do not own Luby’s. That restaurant empire does own Pappadeaux Seafood Kitchen, Pappasito’s Cantina, Pappas Bros. Steakhouse, Pappas Burger, Pappas Seafood House and Pappas Bar-B-Q.
:strip_exif(true):strip_icc(true):no_upscale(true):quality(65)/d1vhqlrjc8h82r.cloudfront.net/09-08-2020/t_064f090e7a3f4bf2918eb2571ee0fd9b_name_image.jpg)
SAN ANTONIO What began in 1911 with a lunch counter in Springfield, Missouri, later becoming the Lubys Cafeteria in San Antonio known by generations of Texans since 1947, is finally coming to an end. The board of directors of Lubys Inc. announced Tuesday that it had adopted a plan to liquidate and dissolve the company. Closing dates have yet to be announced for the Lubys Cafeteria here and elsewhere and any Fuddruckers, also owned by the company, that remain. A news release states the plan provides for the sale of its assets and distribution of the net proceeds to its stockholders. The release goes on to say that eventually, Lubys will be de-listed by the New York Stock Exchange.
:strip_exif(true):strip_icc(true):no_upscale(true):quality(65)/cloudfront-us-east-1.images.arcpublishing.com/gmg/IGWV4ZAEMRCXBLM7VV7M7STKWI.jpg)
SAN ANTONIO A struggling Texas icon has announced its intent to sell off its assets and operations. Lubys on Wednesday said it will immediately pursue the sale of real estate assets and operating divisions, including Lubys Cafeteria and Fuddruckers. The first Lubys Cafeteria opened in San Antonio in 1947. Now based in Houston, Lubys operates 10 Lubys Cafeterias and four Fuddruckers in the San Antonio area. Coronavirus update San Antonio, June 3: 71 new cases, 3 new deaths reported
