Restaurant operator Luby’s Inc., which also owns the Fuddruckers burger chain, intends to sell the business and distribute the proceeds to shareholders after a drop in sales amid the coronavirus pandemic. Houston-based Luby’s said Monday that its board has approved a liquidation plan calling for the sale of its company-owned Luby’s Cafeterias and Fuddruckers outlets as well as its culinary contract business and real estate.

Source: Wall Street Journal September 08, 2020 20:15 UTC