Many Texans were dealt a blow last year when it was announced that the cafeteria style restaurant chain Luby’s would be shutting their doors for good. However, now it seems the popular eatery is being given a second chance. Luby’s Inc. announced recently that they have sold their beloved restaurant business to Chicago-based Calvin Gin, keeping a number of locations open across Texas.
After more than 70 years in Texas, many loyal customers thought they would have to say goodbye to Luby’s forever, but thanks to this recent deal hopefully they will get their favorite Sunday morning restaurant for another 70 years. Thanks to the deal that was announced Monday, 32 Luby’s locations will now remain open. “This transaction will allow us to continue serving the many loyal Luby’s customers at these locations and to provide long-term employment opportunities for the many associates currently at these locations,” said the CEO of Calvin Gin.
This deal continues Luby’s plan to sell assets, pay its liabilities, and return the remaining cash to shareholders. According to Click2Houston, the deal does not include any of the real estate owned by Luby’s, or any of the company’s Fuddruckers operations. Now, Texans just need someone to come save Fuddruckers as well.