On Tuesday, the board of directors for the parent company of Luby’s and Fuddruckers approved a plan to liquidate both restaurants. Luby’s Inc. could distribute approximately $92 million to $123 million to its stockholders, then dissolve the company.
The liquidation plan could also result in a sale, according to a company statement.
Luby’s operates eight restaurants in Dallas-Fort Worth as of Sept. 8, according to the website. Some Luby’s had already closed, like the cafeteria on Mockingbird Lane near Abrams Road in East Dallas and the restaurant on Highway 67 in Duncanville.