Luby's

from Wikipedia, the free encyclopedia
Luby's Inc.
legal form Corporation
ISIN US5492821013
founding 1947
Seat Houston , Texas , United StatesUnited StatesUnited States 
management Christopher J. Pappas ( President & CEO )
Gerald Bodzy ( Chairman of the Board )
Number of employees 6,133 (November 2019)
sales 323.5 million USD (2019) (270,900,000 euros )
Branch System catering
Website lubys.com
As of August 28, 2019

Luby's Inc. is an American operator and franchisor of high-speed restaurants of the brands Luby’s , Fuddruckers , Cheeseburger in Paradise and Luby's culinary services , with sales outlets in several states of the USA , as well as Canada , Mexico , Panama and Puerto Rico .

history

The company was founded in San Antonio in 1947 by Bob Luby and his cousin Charles R. Johnston after Luby returned to Texas from his military service as an intelligence officer from California . Before that, Luby's father Harry had run the New England Dairy Lunch Cafeteria in Springfield .

In the following years, more restaurants were opened in several Texan cities, including Tyler , Harlingen , El Paso and Beaumont .

In 1959, a corporation was founded under the name Cafeterias, Inc. , whose shares were traded from 1973.

In 1981 the name was changed to Luby's Cafeterias, Inc. and in the following year the stock was admitted to trading on the NYSE .

Since the 1960s, expansion has also taken place beyond the borders of Texas, including to New Mexico (1966) and Oklahoma (1980). Today there are locations under the Luby's brand in Texas and Mississippi .

In 2004 the company relocated from San Antonio to Houston.

After an economic recession set in as part of the global financial crisis , 25 locations were closed and staff laid off in 2009 in order to achieve cost savings.

In 2010, Luby's acquired the majority of the assets of Austin- based Magic Brands, LLC , including burger chain Fuddruckers with 60 locations and chain Koo Koo Roo for a total of US $ 61 million after Magic Brands' assets were previously insolvent opened after Chapter 11 .

In 2013 the fast food chain Cheeseburger in Paradise was bought .

In March 2014 the first Fuddruckers restaurant in Europe opened in Varese ; in October of the same year the expansion to Panama took place .

In 2015, a franchisee opened the first Fuddruckers restaurants in Colombia . In June of the same year, Warsaw, the first Central European market, was opened up.

In November 2016, the company entered into a cooperation with the Texan retail chain HEB , under which Luby's sold ready-to-cook , frozen Mac & Cheese in the HEB stores. This cooperation was later expanded to include additional products.

On June 3, 2020, Luby's announced that it was looking for a buyer for its operations (including real estate). With the sales proceeds, existing debts should first be settled; the remaining proceeds are to be distributed to the shareholders. Previously, the company had already taken half of its administrative staff on leave, the remaining employees and managers had cut their salaries by 50% each, and several restaurants were closed.

Individual evidence

  1. ↑ Executive Officers. Luby's Inc., accessed June 13, 2020 .
  2. ↑ a b c d Good Food from Good People LUBY'S, INC. ANNUAL REPORT 2019. (PDF (2.6 MB)) Luby's Inc., November 26, 2019, accessed on June 13, 2020 (English).
  3. ^ James Aldridge: Luby's relocating corporate headquarters to Houston. San Antonio Business Journal, July 16, 2004, accessed June 13, 2020 .
  4. ^ Allison Wollam: Luby's closing 25 stores. Houston Business Journal, October 15, 2009, accessed June 13, 2020 .
  5. ↑ UPDATE 1-Luby's buys Fuddruckers for $ 61 million. Reuters, June 18, 2010, accessed June 13, 2020 .
  6. ^ Luby's, Inc. Closes Purchase of Cheeseburger in Paradise Brand. PR Newswire, December 12, 2010, accessed June 13, 2020 .
  7. ↑ FUDDRUCKER'S DEBUTS FIRST EUROPEAN RESTAURANT IN VARESE, ITALY NEAR MILAN TODAY; TEXAS-BORN CHAIN ​​WELCOMES DINERS TO FAST CASUAL LOCATION CLOSE TO CITY CENTER. (PDF; 571 kB) March 31, 2014, accessed on June 15, 2020 (English).
  8. ↑ FUDDRUCKERS DEBUTS FIRST FAST CASUAL RESTAURANT LOCATION IN PANAMA TODAY WITH FRANCHISE PARTNER ISTHMUS FOOD SERVICE, SA (PDF; 568 kB) October 13, 2014, accessed on June 15, 2020 (English).
  9. ↑ Fuddruckers Debuts Its First fast casual restaurant in Colombia; New Franchise Partner Grupo Char's Introduces Colombiana Burger In Bogota. PR Newswire, October 15, 2015, accessed June 15, 2020 .
  10. ↑ TEXAS-BASED FUDDRUCKERS OPENS ITS FIRST RESTAURANT IN CENTRAL EUROPE; FAST CASUAL EATERY ANCHORS NEW FOOD COURT AT WOLA PARK CENTER IN WARSAW, POLAND. (PDF; 585 kB) June 24, 2015, accessed on June 15, 2020 (English).
  11. ↑ LUBY'S CELEBRATES 70 WITH HEB; LANDMARK CAFETERIA CHAIN ​​TO ROLL OUT FAMED MAC & CHEESE INTO THE FROZEN FOOD AISLES OF MORE THAN 270 HEB STORES AROUND TEXAS. (PDF; 240 kB) December 30, 2016, accessed June 15, 2020 (English).
  12. ^ Addie Broyles: HEB is now selling another one of Luby's iconic comfort foods. austin 360, June 6, 2019, accessed on June 15, 2020 .
  13. ↑ LUBY'S ANNOUNCES IT WILL PURSUE SALE OF ITS OPERATIONS AND ASSETS AND DISTRIBUTE NET PROCEEDS TO STOCKHOLDERS. (PDF; 168 kB) Luby's, June 3, 2020, accessed on June 15, 2020 (English).
  14. ^ Sara Samora: Luby's furloughs several corporate employees, cuts others' pay amid coronavirus limitations. Houston Business Journal, March 24, 2020, accessed June 15, 2020 .
  15. ↑ Rick Kelley: Restaurant recovery: Times are tough, outlook hazy for franchises, chains. Valley Morning Star, June 8, 2020, accessed June 15, 2020 .