INSIDER
Texans rejoice! Luby’s isn’t leaving us thanks to major business decision
Read full article: Texans rejoice! Luby’s isn’t leaving us thanks to major business decisionLast year, Texans were dealt a devastating blow when Houston-based Luby’s Inc. said it was liquidating all its assets with a plan to sell the company and divide the money amongst shareholders.
We found out how to make Luby’s old-fashioned Mac ‘n’ Cheese at home; Get the recipe
Read full article: We found out how to make Luby’s old-fashioned Mac ‘n’ Cheese at home; Get the recipeLuby’s has shared a handful of its recipes for guests to bring its flavors home. Those currently on the restaurant’s website include its Chicken Fried Steak and Creamy Gravy, Kale Cranberry Salad, Waldorf Salad, Carrot Cake and Pecan Pie. With nostalgia for the restaurant at an all-time high during this uncertain period, we did some digging to find Luby’s recipe for its delicious old-fashioned Mac ‘n’ Cheese for you to devour at home. Three, yes, three cups of cheese. That flour must be doing some big work in there too to give it that stick-to-your bones feeling.
Luby’s long goodbye
Read full article: Luby’s long goodbyeIf you grew up in Texas, you’ve probably eaten at Luby’s. And if you’ve eaten at Luby’s, your feelings about the restaurant may run surprisingly deep. When I asked friends and family what springs to mind when they think of Luby’s, sweet tea, yeast rolls, and Papaw’s liver and onions came up a lot. Another Tyler friend, now in Houston, shared a treasured memory of her grandmother: “She would pick me up from kindergarten and we headed straight to Luby’s. Apparently, the Tyler Luby’s closed a few years ago.
Customers fear Lubys liquidation could mean farewell
Read full article: Customers fear Lubys liquidation could mean farewellHouston-based Lubys Inc. said it is liquidating all its assets with a plan to sell the company and divide the money amongst shareholders. Its really sad, said customer Laci Theriot. Ross Ward sad his grandparents have been taking him to Lubys since he was a child. This is my last time to go so its kind of sad.Though customers cant get enough of their favorites, such as the fried fish, Lubys restaurants and the Fuddruckers burger chain have been struggling during the pandemic. Customers have said it sounds like the end of Texas institution, although the sale could result in new ownership.
End of a buffet era? Texas' beloved Lubys adopts plan to liquidate, dissolve company
Read full article: End of a buffet era? Texas' beloved Lubys adopts plan to liquidate, dissolve companyHOUSTON Lubys, a beloved Texas-based restaurant chain for 73 years, has announced the next steps in closing after its board of directors approved and adopted a plan to liquidate and dissolve the company. The next step in closing will be after the companys stockholders approve the plan. According to CNN Business, Lubys restaurant sales fell 75% in the quarter ending June 3 and Fuddruckers' sales fell nearly 91% during the coronavirus pandemic. If the plan is approved by the companys stockholders, it will file preliminary proxy materials with the Securities and Exchange Commission. Although uncertain, the company estimates the sale of its assets could create distributions to stockholders of between $92 million and $123 million.