Photo courtesy of Luby’s Cafe
Shareholders of cafeteria operator Lubys Inc. will receive nearly 4% more from the companys liquidation than had been previously projected, a per-share bump of 15 cents, according to management.
In a securities filing, the company attributed the sweetened forecast to a combination of higher-than-expected proceeds from recent sales and improved results from assets that have not yet been divested.
Lubys said it sold four properties during June for $9.1 million in total. The transactions raised the number of restaurants sold to date in fiscal 2021 to seven.
It agreed to sell its Fuddruckers fast-casual burger business in mid-June to Black Titan Franchise Associates, an affiliate of a current franchisee, f…
Read the full article at: https://www.restaurantbusinessonline.com/financing/lubys-liquidation-proves-more-lucrative-expected
