Another Texas icon has fallen prey to a bleak financial Coronavirus situation dealing with an America in Crisis.

Luby’s Inc. announced Wednesday that is is going to sell all operating divisions and real estate assets to pay stockholders and debts after the company has struggled financially for a long time. The cafeteria-style restaurants have been a source of comfort food for Texans since the first Luby’s was opened in San Antonio more than 70 years ago.

“During the sale process, certain of the Company’s restaurants will remain open to continue serving our guests,” the company wrote in a press release.

“Luby’s will explore a variety of potential transactions, including selling the Company’s operating divisions: Luby’s Cafeteria, Fuddruckers, and Culinary Contract Services, as well as its real estate, or selling the Company in its entirety. Net proceeds obtained from any such transactions, after satisfying the Company’s debt and other obligations, will ultimately be distributed to Luby’s stockholders,” the company wrote.

Dallas-Fort Worth has 10 locations of Luby’s. Their website shows four open and six temporarily closed as follows.

Open:

Desoto: 801 North Beckley Rd.
Forest Hill: 3312 Southeast Loop 820
Ft Worth: 1200 Bridgewood Dr.
Ft Worth: 3801 Northeast Loop 820

Temporarily Closed:

Dallas: 6221 East Mockingbird Ln.
Dallas: 13455 Midway Rd.
Dallas: 5600 South Hampton Rd.
Duncanville: 926 East Highway 67
Plano: 5040 West Park Blvd.
Rockwall: 2235 S Goliad St.
DFW has 7 Fuddruckers. Their website shows three open and four temporarily closed, but customers report that none are open.

Frisco 2947 Preston Rd.
McKinney: 2045 N. Central Expy.
Plano: 741 N. Central Expy.
Dallas: 4520 Frankford Rd.
Fort Worth: 5601 SW Loop 820
Grapevine: 2001 N. Highway 121
Rockwall: 2235 S. Goliad St.
That Luby’s could shutter has been a possibility for some time. In 2019, the company fended off a challenge from an activist investor that sought to replace members of its board of directors. The restaurant has seen sales decline as consumers choose fast-casual restaurants over cafeterias. It made the decision to pursue a sale after a special committee of its board of directors reviewed the company’s operations.

Founded in San Antonio in 1947, Luby’s relocated its corporate headquarters to Houston after Pappas Restaurants owners Chris and Harris Pappas bought a majority stake in the company in 2001.

At this time, the company’s future is unknown. It could find a buyer that purchases the entire business outright or it could sell off its substantial real estate holdings one-by-one and fade into obscurity. In the meantime, diners may want to contemplate making their next visit sooner than later.