(WBAP/KLIF NEWS)- Texans might see another favorite restaurant chain fade away.
The cafeteria style restaurant Luby’s might soon be a thing of the passed now that board members voted to liquidate and dissolve the company’s business operations and real estate.
Luby’s President and CEO Christopher J. Pappas says the plan must still be approved by stockholders and the company is preserving the flexibility to pursue a sale of the company should a compelling offer be made.
WFAA-TV reports If the plan is approved, all remaining assets will be converted into cash and all net proceeds will be distributed to the stockholders.
