Luby’s board votes to dissolve the company

SAN ANTONIO (KTSA News) — A Texas based restaurant chain has fallen victim to the Coronavirus.

Luby’s restaurants, those cafeteria style eateries that have been enjoyed by generations of Texas families, are closing for good.

The company was started by Robert Luby in San Antonio back in 1947. Over the years more restaurants were brought under the Luby’s umbrella including Fuddruckers and several other restaurants around the country.

The Fuddruckers brand will also be closing down.

Back in June the Luby’s Inc. board members announced they were looking to sell off it’s assets but on Tuesday, the board voted to dissolve the company.

Millions of dollars from the proceeds of the sale will be distributed to stockholders.

The COVID-19-inspired shutdown has been plaguing the Luby’s chain since the beginning.

Staff salaries were cut by 50-percent in March.

There are 10 Luby’s locations and 3 Fuddruckers in San Antonio.