- June 22, 2021
- Posted by: Stratford Team
- Category: Business
HOUSTON – Last year, Texans were dealt a devastating blow when Houston-based Luby’s Inc. said it was liquidating all its assets with a plan to sell the company and divide the money amongst shareholders.
Customers feared it would mean saying goodbye to the cafeteria-style restaurant that had fed Texans for more than 70 years.
However, people can breathe easy now. The company announced Monday that it signed an agreement to sell Luby’s Cafeteria restaurant business to a newly formed affiliate of Calvin Gin.
“We are so pleased to be able to acquire the operation of these Luby’s Cafeteria stores, one of the iconic brands in the Texas restaurant market,” said Gin, CEO of the purchaser. “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.”
According to the news release, the sale is another step…
