Luby’s board plans to liquidate restaurant company

Houston-based restaurant company Luby’s Inc. (NYSE: LUB) will be liquidated and dissolved, the board of directors has decided.

Stockholders must still approve the plan, which they will vote on at a special meeting that has yet to be set, according to a Sept. 8 press release.

The liquidation plan “outlines an orderly sale of the company’s businesses, operations and real estate and an orderly wind down of any remaining operations,” the release states. The company estimates it could distribute proceeds…