On May 31, all Luby’s stockholders will automatically receive a distribution of one liquidating trust unit for each common share held.

After more than a year of rumors of closings and re-openings amid the COVID-19 pandemic, the fate of Luby’s has been determined.

SAN ANTONIO – It looks to be bad news for Luby’s lovers. Fox 7 in Austin found governmental filings that show the restaurant posted a $3 million loss in its first fiscal quarter, while also settling 24 leases of closed Luby’s properties. AdLast June, Luby’s announced that it intended to sell off all assets and operations, including Fuddruckers, with proceeds going towards paying debts and other obligations. In September, the board of directors of Luby’s Inc. announced that it had adopted a plan to liquidate and dissolve the company. “It is estimated that most restaurant operations would cease operations under our ownership by the end of fiscal 2021,” the filing states, and “that a majority of [Luby’s] assets will be sold by December 31, 2021.”AdThere are still several Luby’s restaurants that are currently open in San Antonio.

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.

For 40 years, Sandy and Sherry Reuthinger did that and more at the Walzem Road location of Lubys restaurant. Family photos show the Reuthinger twins on their last day on the job. The customers and regular hugs they enjoyed on the job have become memories now, due in part to the coronavirus pandemic. Texas-based Lubys announces intent to sell restaurant businesses, assetsThe family style restaurant shut down temporarily during the quarantine months ago. Prior to the restaurant shutting down, the sisters prepared a plate for a customer at Lubys.

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