HOUSTON — Luby's and its Fuddruckers restaurants are closing their remaining restaurants by August.
The Dallas Morning News reports Chris Pappas, who operates Houston-based Pappas restaurants, has resigned as CEA and president of Luby's Inc.
Luby's has about a dozen Houston restaurants operating currently.
Back in September, the Luby's Inc. board members voted to liquidate and dissolve the company's "businesses, operations, and real estate" and institute an "orderly wind down of any remaining operations," the company announced in a press release.
In June, the Houston-based company announced it would immediately pursue the sale of its operating divisions and assets, including its real estate assets, and distribute the net proceeds to stockholders after payment of debt and other obligations.
At that time, the plan was to convert all of its remaining assets into cash and distribute the net proceeds to the stockholders.
However, Pappas also said at that time the company was "preserving the flexibility to pursue a sale of the Company should a compelling offer that delivers superior value be made."
Essentially, if a better offer comes along, the liquidation plan could be abandoned. That unfortunately never happened.
Growing up in Houston, Luby’s is tradition. Its iconic cafeterias, homestyle food and affordable prices leaves everyone craving something.
“Chicken fried steak, cream gravy," said Bill Bishop, managing editor for KHOU 11.
“The fried okra would probably be my absolute favorite," said Mia Gradney, KHOU 11 anchor.
“I love the pecan pie," said Willye White, grandmother to KHOU 11 reporter Grace White.
At 87 years old, "Honey," as we call her, has plenty of memories.
Grace White: “I feel like you took us to Luby’s to teach us manners."
Willye White: “Yes, I love to teach my grandchildren manners, to say, 'please' and 'thank you,' and when they served you to say, 'thank you,' and before we ate to have a prayer."
Grace White: “How did I do in manner school?”
Willye White: “Don’t really remember, but probably y’all were too eager to eat!"
“Luby’s came into the Houston market as Romana Cafeteria," Bishop said.
He remembers going as a child in the 60s.
“Every single week, it was a ritual. Every Friday night, we were at the cafeteria," Bishop said. “You’d run into your friends there, that’s another thing, you’d run into people you know."
“It was a meat or a protein, a vegetable, some type of carb or starch, a dinner roll and sweet iced tea, and that’s exactly how I would eat with my family at home," Gradney said.
She says going to Luby’s was a tradition that started when she was a little girl.
“Now, the tables have turned, I take my own parents our for lunch. Where are we going? Luby's! My daughter, she’s grown up on Luby's, too," Gradney said.
It's a Texas legend that’s hard to imagine for so many families is really going away.
Grace White: “It is kind of sad to see it go. It’s a tradition that was nostalgic for us."
Willye White: "Maybe it will come back? This too shall pass, what’s going on right now, so we shall see."