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Luby s Cafeteria reveals timeline for closing Dallas locations Luby s Cafeteria reveals timeline for closing Dallas locations Get your Luby s fix by the end of summer. The days of LuAnn platters are drawing to a close: Luby s expects to cease most restaurant operations by the end of its fiscal year in August, according to a filing made with the Securities and Exchange Commission. The beleaguered, Texas-based cafeteria chain adopted a plan of liquidation and dissolution in November that will see the company sell off its assets including the restaurants Luby s and Fuddruckers, as well as its real estate holdings and distribute the proceeds to shareholders. Luby s estimates each share will generate $3.82 in proceeds. ....
Texas-based Luby s reveals timeline for closing every location Get your Luby s fix by the end of summer. The days of LuAnn platters are drawing to a close. Luby s expects to cease most restaurant operations by the end of its fiscal year in August, the company reports in a filing with the Securities and Exchange Commission. The beleaguered, Texas-based cafeteria chain adopted a plan of liquidation and dissolution in November that will see the company sell off its assets including the restaurants Luby s and Fuddruckers, as well as its real estate holdings and distribute the proceeds to shareholders. Luby s estimates each share will generate $3.82 in proceeds. Shares of the company s stock (NYSE: LUB) closed at $3.12 on Wednesday, February 3. ....
Luby’s and Fuddruckers restaurants in Dallas-Fort Worth are expected to close by August. A recent filing with the Securities and Exchange Commission says “liquidation is imminent.” If this sounds familiar, that’s because the board of directors for Luby’s Inc. approved a plan to liquidate both restaurants last year, but that decision did not yet guarantee a shuttering of all brands. A few weeks later, in late-September 2020, Texas brothers Chris and Harris Pappas filed paperwork with the SEC to evaluate whether they should purchase Luby’s Inc., and it was potentially a way for the storied restaurant family to save the company from extinction. ....