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Bye bye Luby's

Hornius Emeritus

By Hornius Emeritus
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CooterBrown
CooterBrown

Somehow the Luby’s on Steck is still open and delicious. Went with the classic combo last night.

orangecat92
orangecat92

Luby's from both perspectives, as a customer and then a manager.  The Killeen massacre happened exactly one week before my first interview with Luby's, in fall 1991.  I was an older college student fi

BigDHornfan
BigDHornfan

Hit up the one in Plano for lunch. Liver and onions fresh off the grill. Damn good.

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deadshank

deadshank 24652

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32 minutes ago, tx 3 putt said:

where am i supposed to go for my liver and onions now ?

My ma used to eat L&O back when she was a child.   Her mother made it for my mom and my mom’s twin sister.  Liver is high in iron and “good” for females they were told. 
 

When my grandmother was well into her 80s, she told her twins daughters that she had something to tell them; a confession.  
 

Grandma informed her daughters (now in their 60s) that she forever despised liver and all those years she served liver to her daughters, grandma was, in fact, eating a ribeye. 
 

I always liked grandma’s style.  

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TwiceHorn

TwiceHorn 31438

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21 minutes ago, deadshank said:

My ma used to eat L&O back when she was a child.   Her mother made it for my mom and my mom’s twin sister.  Liver is high in iron and “good” for females they were told. 
 

When my grandmother was well into her 80s, she told her twins daughters that she had something to tell them; a confession.  
 

Grandma informed her daughters (now in their 60s) that she forever despised liver and all those years she served liver to her daughters, grandma was, in fact, eating a ribeye. 
 

I always liked grandma’s style.  

My mom was fed it as a kid also and did not care for it.  Her mother apologized later in life and neither of them served it again as long as they lived.

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TonyTexas

TonyTexas 10506

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Luby’s has agreed to sell its 92-unit Fuddruckers fast-casual brand to an affiliate of the chain’s largest franchisee, Black Titan Enterprises, in a buyout deal with a potential value of $18.5 million. 

The Back Titan affiliate has also agreed to buy the land underneath what are now company-operated Fuddruckers units. The details of that transaction, including the price, were not disclosed.

The sale of the restaurant chain is the latest step in Luby’s liquidation, which was announced in September after the cafeteria operator failed to find a buyer. Luby’s main business is its namesake cafeterias, including four that are paired with a Fuddruckers.

Luby’s said it will hang onto those four Fuddruckers, as well as five standalone units.

The parent of Fuddruckers’ intended buyer, newly formed Black Titan Franchise Systems, already owns and operates 13 franchised restaurants and plans to acquire two more. Both Black Titan entities are controlled by Nicholas Perkins, who also has a foodservice management company, Washington, D.C.-based Perkins Management Systems. That operation runs the foodservice operations of colleges, healthcare institutions, government facilities, offices and factories. It also provides catering for sports and entertainment events. 

Perkins will serve as CEO of Black Titan Franchise Systems, or BTFS, as he does for Black Titan Enterprises and Perkins Management Systems.

The deal announced Thursday by Luby’s calls for Black Titan Franchise Systems, or BTFS, to provide Luby’s with a note for most of the $18.5 million transaction price.  Luby’s said it cannot guarantee the value will remain at $18.5 million, but the public company is not adjusting its projections of what its liquidation will fetch. 

Luby’s said it contacted 150 potential buyers before accepting Perkins’ bid, the highest in the batch. 

"As a Fuddruckers franchisee, I have a vested interest in ensuring that all Fuddruckers franchisees have the resources, infrastructure, and operational and marketing support they need to maximize their return on investment,” Perkins said in a statement.

Luby’s has yet to find a buyer for its cafeterias and its contract management company, Luby's Culinary Contract Services, which competes in several of the non-commercial segments served by Perkins Management Systems.

Fuddruckers was a pioneer of fast-casual dining. It was created by Phil Romano, also the father of Romano’s Macaroni Grill and Eatzi’s, as a place where consumers could get a better burger than what they would find at a typical fast-food restaurant.

The burgers were made to order, and early units featured a butcher shop and bakery. 

Luby's said it expects the deal to close within 90 days.

 

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closetojumping

closetojumping 62554

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I had Fuddrucker’s on Sunday afternoon with my wife and kids.  I’ve never understood why they get a bad rap. The burgers are always good and so is everything else. There are a bunch of “craft” burger joints that I’ve tried and almost always felt like they were just okay or worse. Good news in any event. 

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Brisketexan

Brisketexan 105064

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3 hours ago, closetojumping said:

I had Fuddrucker’s on Sunday afternoon with my wife and kids.  I’ve never understood why they get a bad rap. The burgers are always good and so is everything else. There are a bunch of “craft” burger joints that I’ve tried and almost always felt like they were just okay or worse. Good news in any event. 

Yep.  I don't get any hate for Fuddruckers.  Have always liked it.  Especially when we had young kids.  We could go, and make them happy, and we could also get a damned good burger, and just relax for a bit.  It was a good meal, but also at someplace not so fancy that people looked at you funny if your kids made a racket.  And even after the kids got older, it wasn't so out of control that you couldn't just enjoy a good burger on your own.

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HenryJames

HenryJames 66038

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4 hours ago, TonyTexas said:

Luby’s has agreed to sell its 92-unit Fuddruckers fast-casual brand to an affiliate of the chain’s largest franchisee, Black Titan Enterprises, in a buyout deal with a potential value of $18.5 million. 

That’s all? Shit, we should see if they’ll sell Surly a unit.

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billfromlaketravis

billfromlaketravis 11447

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I work with quite a few Generation Z food snobs. I think people don't like Fudd's for the following reasons: 

- The goofy ass name. 

- It's a chain. Anything that's a chain can't be good in some people's opinion. They fail to understand or acknowledge Hopdoddy is also a chain.

- No craft beer or cocktail selections. 

- Complete lack of handlebar mustaches on staff. 

- Pretty tame ingredients. 

- No one is going to like a Fudd's burger on Instagram. 

 

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TonyTexas

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Houston-based Luby's Inc. (NYSE: LUB) announced June 21 that it will sell its Luby's Cafeteria restaurant business — but not any real estate — to a newly formed affiliate of Calvin Gin. 

The deal is expected to be valued at approximately $28.7 million, almost all of which will come from the buyer's assumption of Luby's liabilities and issuance of notes to Luby's. Although there's no guarantee that entire value will be realized, Luby's doesn't expect the deal to have an impact on its estimated liquidation value. Whatever value is realized from the deal will be in addition to the value Luby's will get from selling company-owned real estate, the Houston-based restaurant group said.

The deal is expected to close before Luby's current fiscal year ends Aug. 25. 

The buyer is a newly formed affiliate of Calvin Gin. He is a member of the Gin family who established The Flying Food Group, the third-largest airline catering company in North America. The Flying Food Group's clients also include Starbucks and other companies. 

Calvin Gin has held several roles with the Flying Food Group, including vice president for its Starbucks business unit, and has more than two decades of entrepreneurial experience. He previously was CFO for Blue Plate Catering Ltd. and Applause Food Services Inc., and he currently is a co-founder or partner in several entities, including Helios Visions, WorkPlate and Charming Studios.

The new affiliate will acquire the Luby's Cafeteria brand and the businesses of the following 32 restaurants, all in Texas:

Austin – East Anderson 

Beaumont – Interstate 10 East 

Brownsville – Sunrise Mall 

Conroe – Longmire 

Corpus Christi – Saratoga Blvd. 

Dallas – South Hampton 

De Soto – North Beckley 

El Paso – Hawkins Blvd. 

Fort Worth – Forest Hill 

Harlingen – South 99 Sunshine Strip 

Houston – East Freeway 

Houston – 730 West FM 1960

Houston – Fuqua 

Houston – South Mason, Katy 

Houston – Meyer Park

Houston – 11250 Northwest Freeway 

Houston – 19668 Northwest Freeway 

Houston – Spring Cypress 

Houston – Veterans Memorial 

Houston – Westminster Plaza

Kingwood – Highway 59

Laredo – West Calton Road 

McAllen – North 10th Street

Pharr 

Port Arthur – Highway 73 

San Antonio – Floyd Curl 

San Antonio – Fredericksburg Road 

San Antonio – Las Palmas 

San Antonio – West Loop 1604 North 

San Antonio – S.E. Military 

Stafford – West Airport Blvd. 

Webster – Gulf Freeway

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tigol

tigol 2395

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12 minutes ago, CooterBrown said:

The Steck location didn’t make the cut? Wtf.

Yeah, the E. Anderson location is shady as hell.  It's really close to the Cameron Rd. bridge homeless takeover.

 

My only guess is they don't own the land at the Steck location and the rent is cheaper at Anderson.

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DalTxHornFan

DalTxHornFan 3097

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21 minutes ago, CooterBrown said:

The Steck location didn’t make the cut? Wtf.

Luby's owns that property according to Travis Central Appraisal District.  The dirt is worth too much.  That site will be sold and redeveloped -- whatever goes in there will likely be pretty tall.

http://propaccess.traviscad.org/clientdb/Property.aspx?prop_id=442705&year=2021

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Brisketexan

Brisketexan 105064

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Yeah, the E. Anderson location is shady as hell.  It's really close to the Cameron Rd. bridge homeless takeover.
 
My only guess is they don't own the land at the Steck location and the rent is cheaper at Anderson.

Shit…I didn’t read that closely enough. Love right by the Steck location….but not the E Anderson. Dammit.
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Native Horn

Native Horn 3498

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On 6/21/2021 at 7:58 PM, Brisketexan said:


Shit…I didn’t read that closely enough. Love right by the Steck location….but not the E Anderson. Dammit.

E. Anderson location is less than 6 miles from the Steck location.  Not too bad.  Agree that the location ain't great.

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deadshank

deadshank 24652

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7 hours ago, MaybeACoordinator said:

Maybe some of those not on the list will go rogue as Loobie's or some shit...and maybe be the same or better.

There was a little joint around the way from my warehouse over by Delmar Stadium in Houston that was a micro version of Luby's.  They cooked up a bunch of stuff that was actually pretty good and served it out cafeteria style.  It was in business for about 5 years and we dubbed it "Fake Luby's."  

/csb

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billfromlaketravis

billfromlaketravis 11447

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On 6/21/2021 at 11:50 AM, TonyTexas said:

Houston-based Luby's Inc. (NYSE: LUB) announced June 21 that it will sell its Luby's Cafeteria restaurant business — but not any real estate — to a newly formed affiliate of Calvin Gin. 

The deal is expected to be valued at approximately $28.7 million, almost all of which will come from the buyer's assumption of Luby's liabilities and issuance of notes to Luby's. Although there's no guarantee that entire value will be realized, Luby's doesn't expect the deal to have an impact on its estimated liquidation value. Whatever value is realized from the deal will be in addition to the value Luby's will get from selling company-owned real estate, the Houston-based restaurant group said.

The deal is expected to close before Luby's current fiscal year ends Aug. 25. 

The buyer is a newly formed affiliate of Calvin Gin. He is a member of the Gin family who established The Flying Food Group, the third-largest airline catering company in North America. The Flying Food Group's clients also include Starbucks and other companies. 

Calvin Gin has held several roles with the Flying Food Group, including vice president for its Starbucks business unit, and has more than two decades of entrepreneurial experience. He previously was CFO for Blue Plate Catering Ltd. and Applause Food Services Inc., and he currently is a co-founder or partner in several entities, including Helios Visions, WorkPlate and Charming Studios.

The new affiliate will acquire the Luby's Cafeteria brand and the businesses of the following 32 restaurants, all in Texas:

Austin – East Anderson 

Beaumont – Interstate 10 East 

Brownsville – Sunrise Mall 

Conroe – Longmire 

Corpus Christi – Saratoga Blvd. 

Dallas – South Hampton 

De Soto – North Beckley 

El Paso – Hawkins Blvd. 

Fort Worth – Forest Hill 

Harlingen – South 99 Sunshine Strip 

Houston – East Freeway 

Houston – 730 West FM 1960

Houston – Fuqua 

Houston – South Mason, Katy 

Houston – Meyer Park

Houston – 11250 Northwest Freeway 

Houston – 19668 Northwest Freeway 

Houston – Spring Cypress 

Houston – Veterans Memorial 

Houston – Westminster Plaza

Kingwood – Highway 59

Laredo – West Calton Road 

McAllen – North 10th Street

Pharr 

Port Arthur – Highway 73 

San Antonio – Floyd Curl 

San Antonio – Fredericksburg Road 

San Antonio – Las Palmas 

San Antonio – West Loop 1604 North 

San Antonio – S.E. Military 

Stafford – West Airport Blvd. 

Webster – Gulf Freeway

The Westminster Plaza location is pretty far west on Westheimer, but not that bad. I’ve driven by a few times and they seem to have daily specials. Smothered pork chops sound awesome. I need to stop by. 

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billfromlaketravis

billfromlaketravis 11447

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On 6/17/2021 at 1:25 PM, Brisketexan said:

That is not a standard order for me.

Yet I can find no fault with it.

Pro-tip -- splash a little of the vinegar sport pepper sauce on your jalapeno cornbread.  It's magical.

F***ing this. The pepper sauce on jalapeño cornbread is a game changer. It works better than butter. 

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