Luby’s Is Liquidating Its Assets and Dissolving the Company

Luby’s Is Liquidating Its Assets and Dissolving the Company

The pandemic has been unkind to many businesses across the country, especially in the restaurant industry, where as many as 30 percent of businesses may be at risk of closing permanently. The threat is even greater for those that were struggling long before capacities were slashed and Americans learned that sitting in a dining room with unmasked strangers could be hazardous to their health. Luby’s, the beloved Texas cafeteria that had spent years trying to rebuild its niche in a crowded marketplace for fast-casual dining, announced in June that the company was up for sale. Then, today, the 73-year-old company announced that—as no buyer has yet been found—Luby’s will be liquidating its assets and dissolving. What this means for the future of your LuAnn Platter…View Original Post

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Source: Texas Monthly