LUB - HoustonNewMedia.org

Luby’s to issue first liquidating distribution to shareholders

Olivia Pulsinelli — Wed, 13 Oct 2021 23:21:54 +0000

Houston-based Luby's Inc. (NYSE: LUB) is making its first liquidating distribution to shareholders as it continues to wind down its business.

Shareholders of record as of Oct. 25 will receive a cash distribution of $2 per share on Nov. 1, the company...

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Luby’s to transfer 13 Fuddruckers restaurants to franchisee as part of liquidation plan

Olivia Pulsinelli — Wed, 16 Dec 2020 14:42:19 +0000

Houston-based restaurant company Luby's Inc. (NYSE: LUB) has reached a deal to transfer more Fuddruckers locations to a franchisee.

The deal will make Black Titan Holdings LLC, an affiliate of food-service entrepreneur Nicholas M. Perkins, one of the ...

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Luby’s hires JLL to handle sale of real estate holdings

Olivia Pulsinelli — Wed, 11 Nov 2020 01:51:09 +0000

Houston-based Luby's Inc. (NYSE: LUB) has hired commercial real estate firm JLL as it prepares to liquidate and dissolve the company.

JLL (NYSE: JLL) will assist Luby's in marketing and selling its real estate holdings, according to a Nov. 10 press r...

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Luby’s board plans to liquidate restaurant company

Olivia Pulsinelli — Tue, 08 Sep 2020 14:55:21 +0000

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 ...

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Luby’s board approves exec retention bonuses amid search for sale

Chris Mathews — Mon, 17 Aug 2020 23:12:09 +0000

The Luby's Inc. (NYSE: LUB) board of directors approved retention bonuses, as well as severance agreements, for some executive officers as the Houston-based restaurant group pursues a sale of its operating divisions and assets.

The retention bonuses ...

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Luby’s issues ‘going concern’ warning, reports $25M Q3 loss

Laura Gillespie — Wed, 22 Jul 2020 13:45:14 +0000

Luby's Inc. (NYSE: LUB), which had been dealing with disappointing financial results even before the pandemic, reported a nearly $24.98 million net loss for the third quarter of its fiscal 2020 year.

That quarterly loss is more than the restaurant com...

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Luby’s regains NYSE compliance after announcing plans to sell business

Laura Gillespie — Mon, 13 Jul 2020 20:10:08 +0000

Luby’s Inc. (NYSE: LUB) has regained compliance with the New York Stock Exchange list standards months after being warned that it could be delisted, according to a recent press release.

The company was notified of its noncompliance back in April when...

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Luby’s to put business and assets up for sale

Laura Gillespie — Thu, 04 Jun 2020 00:10:17 +0000

Luby’s Inc. (NYSE: LUB) will immediately pursue the sale of its operating divisions and assets, the Houston-based restaurant company announced June 3 in a press release.

The decision comes after a special committee of the board of directors conducted...

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Luby’s receives PPP loan, delisting warning

Olivia Pulsinelli — Fri, 24 Apr 2020 13:09:56 +0000

Houston-based restaurant company Luby's Inc. (NYSE: LUB) is at risk of being delisted from the New York Stock Exchange because its stock price is too low.

The company, which was working on turnaround efforts long before the Covid-19 coronavirus pande...

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Luby’s furloughs several corporate employees, cuts others’ pay amid coronavirus limitations

Sara Samora — Tue, 24 Mar 2020 19:04:51 +0000

Houston-based Luby's Inc. (NYSE: LUB) is one of many restaurant companies that have had to make cuts amid the coronavirus pandemic.

The company announced March 24 that it has also furloughed more than half of its corporate general and administrative ...

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Luby’s CEO on lackluster earnings: ‘These results are not acceptable’

Chris Mathews — Wed, 05 Feb 2020 01:31:10 +0000

Houston-based restaurant company Luby's Inc. (NYSE: LUB) posted lackluster earnings for the first quarter of fiscal year 2020 as the firm continues its turnaround efforts.

Luby's recorded revenue of $95.15 million during the quarter ended Dec. 18, 20...

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