HOUSTON Luby s Inc. (LUB) on Monday reported a loss of $3 million in its fiscal first quarter. On a per-share basis, the Houston-based company said it had a loss…
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HOUSTON, Feb. 1, 2021 /PRNewswire/ Luby s, Inc. ( Luby s or the Company ) (NYSE: LUB), announced that John Garilli has been appointed Luby s Interim President and Chief Executive Officer effective January 27, 2021, as Christopher Pappas stepped down as President and Chief Executive Officer as part of the Company s plan of monetizing its assets for the benefit of shareholders. Mr. Pappas remains a member of the Board of Directors of Luby s, Inc and its largest shareholder.
Mr. Garilli, age 56, has been a member of Winthrop Capital Advisors LLC ( WCA ) and its affiliates since 1995 serving in various capacities, currently as President and Chief Operating Officer. Mr. Garilli has served as Chief Executive Officer, President, Chief Financial Officer, Treasurer, and Secretary of New York REIT Liquidating LLC ( NYRTLLC ) since November 2018 and served as the Chief Executive Officer of its predecessor, New York REIT, Inc. ( NYRT ), a NYSE-listed
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The coronavirus pandemic dealt a fatal blow to some restaurant chains in northern Virginia. These chains shut locations in 2020. (Shutterstock)
VIRGINIA When the coronavirus pandemic led to restaurant closures or dining restrictions in the spring of 2020, restaurants were forced to curtail normal operation for weeks. Those that survived shifted their business models to meet changing public health guidelines.
The financial hemorrhaging of restaurants was felt strongly in Virginia and DC, where the following chains filed for bankruptcy or announced location closures this year or continued closures in 2021:
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Applebee s Neighborhood Grill is expected to permanently shut down 15 branches and close over 200 underperforming locations by the end of the year, Business Insider reported. The Atlanta-born restaurant chain has 54 locations across the state, and it is unclear which if any Virginia locations will be closed permanently in 2021.
Pandemic. Recession. Oil bust. How Houston weathered economic collapse under COVID-19
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Abandoned tanks in Penwell in April. A sudden and devastating oil crash pounded the energy sector,which was still recovering from the deep, two-year oil bust that ended in 2016Elizabeth Conley, Houston Chronicle / Staff photographerShow MoreShow Less
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Brick and mortar retailers were particularly hurt by the pandemic.Karen Warren, Houston Chronicle / Staff photographerShow MoreShow Less
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A man walks through an almost completely empty parking lot at Franklin and La Branch Streets in March.Steve Gonzales, Houston Chronicle / Staff photographerShow MoreShow Less
Back in January, economists predicted a fairly routine 2020. The global economy was expected to grow a healthy 3.3 percent, buoyed by hopes that trade tensions between the United States and China were easing.
Luby s to transfer 13 Fuddruckers restaurants to franchisee - Houston Business Journal bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.