Reports: Pappas taking a look at Luby's, Fuddruckers

Texas restaurateurs looking at buying beleaguered cafeteria chain

Talk 1370 Newsroom
September 22, 2020 - 7:40 pm
Luby's Cafeteria

courtesy Luby's, Inc.

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HOUSTON (Talk1370.com) -- It might not be over for the LuAnn Platter just yet - if two Texas restaurateurs swoop in and save Houston-based Luby's.

Christopher and Harris James Pappas have entered into a confidentiality agreement with Luby's Inc., according to documents filed with the Securities and Exchange Commission earlier this month. The agreement allows for access to the company's financial records for a potential acquisition of the company, including the Luby's Cafeteria and Fuddrucker's brands.

Christopher Pappas has served as the president and chief executive officer of Luby's since 2001; Harris Pappas served as chief operating officer until his retirement in 2011, and served until 2019 on the company's board of directors.

Both are owners of Houston-based Pappas Partners, L.P. and Pappas Restaurants Inc. The companies have no ownership interest in Luby's, but do control a number of brands including Pappasito’s Cantina, Pappadeaux Seafood Kitchen, Pappas Bros. Steakhouse, Pappas Burger, Pappas Seafood House and Pappas Bar-B-Q.

Luby's announced earlier this month that its board of directors had voted to liquidate and dissolve the company, following an announcement in June that the company was seeking to sell its assets.

The company says it currently has 80 locations across the state. Luby's currently operates three Austin-area locations; a fourth, on Brodie Lane in Sunset Valley, closed earlier this year due to the coronavirus pandemic. Only one Austin-area Fuddruckers location is currently open.

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