O. K., before you say anything about hearing this before, read carefully, because this time it sounds ominous for anyone in this area who is even a casual fan.
You are right; last year, the Board of Directors for Luby’s, Inc., approved a plan to liquidate both restaurants by the end of the year, but, patrons found out that decision did not “guarantee” a “shuttering” of ALL BRANDS!
And a few weeks later, Texas Brothers, Harris and Chris Pappas, filed notice with the SEC that they would officially evaluate whether or not to purchase Luby’s, Inc. It appeared that they might potentially rescue the “famous family” from total extinction—at least many of us hoped so!
And when the two abovenamed restaurants continued to advertise and operate, it seems folks just “figured” they would be here to stay!
UNFORTUNATELY, the company has decided to move ahead with the total liquidation! Chris Pappas has stepped down as CEO and President of Luby’s, Inc.— but remains the largest shareholder.
John Garilli, president of a real estate trust company, has been named Interim President and CEO for the present Luby’s, Inc.
Now, before you totally give up hope for the restaurants, officials of the company and the official website reminds customers that “We would like to remind our guests that our doors are open, and we are delighted to continue serving our loyal community during the holidays.” At least, it still said that on Thursday, February 4.
A spokesman, Rick Black, declined to discuss any closures, so it was not clear whether some or all restau rants would close prior to the end of the fiscal year, August 25.
According to reports, Luby’s operates 58 Luby’s Restaurants across the state of Texas, and the eight (8) DFW area locations all appear to be open at the time of the writing of this article.
Luby’s still has 24 company-operated Fuddruckers Restaurants, and Black Titan Holdings has announced plans to purchase the assets of 13 of these stores and operate them as “franchises.”
However, not one of the proposed is in the DFW area! Oh, me, the final remaining Fuddruckers in the North Texas area is in Rockwall, so I had better gas up the Cruze and get on the road before I miss out!
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