Texas Based Luby's To Sell All Assets

(Houston, TX) — A popular Texas cafeteria chain is planning to sell its assets because of the tough economic times.

Houston-based Luby’s announced on Wednesday that it will sell all its operating divisions and real estate assets to pay stockholders and pay off its debts. One of the company’s operating divisions is Fuddrucker’s. The company says some of the restaurants will stay open as the selloff proceeds.

The first Luby’s opened in San Antonio more than 70 years ago. There are nearly a dozen Luby’s in DFW.

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Texas Based Luby’s To Sell All Assets