In a surprising turn of events, the wealthy Texas restaurateurs who operate Pappadeaux Seafood Kitchen, Pappasito’s Cantina and Pappas Bros. Steakhouse have filed paperwork with the Securities and Exchange Commission to evaluate whether they should purchase Luby’s Inc.
Luby’s is the parent company for the cafeteria chain Luby’s and the burger joint Fuddruckers. The struggling company is in the process of liquidating its assets, then dissolving the company — which would result in the closure of Luby’s and Fuddruckers restaurants. But the option remains open for Luby’s to be purchased by another entity, and the Houston Chronicle broke the news Monday that Houston brothers Chris and Harris Pappas appear to be considering it.
It’s too early to know whether the Pappas family will make an offer, and a spokesman says the company is not offering additional comments.