HOUSTON, TEXAS—Luby's, Inc. has announced it will pursue the sale of its operating divisions and assets, including all of its real estate assets. Namely, the restaurant company plans to explore several potential transactions, including selling its operating divisions: Luby's Cafeteria, Fuddruckers, and Culinary Contract Services, as well as its real estate. It may also sell the company in its entirety.
The company plans to use the net proceeds to satisfy its debt and other obligations with remaining funds to be distributed to Luby's stockholders. During the sale process, some of the company's restaurants will remain open.
This decision followed a comprehensive review led by a special committee, which reviewed a range of strategic alternatives available to the company.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
