Luby's to shutter more locations

The Houston-based Luby's cafeteria chain says it plans to close more locations.

Shutting down eight properties since last May reportedly raised more than $11 million to help pay down the company's $39.5 million debt. But the company expects to shutter even more to raise as much as $45 million.

It's not clear how many of the closures will take place in Houston. In its most recent report, the company said it operated 147 restaurants nationally - 84 Luby's Cafeterias, 61 Fuddruckers and two Cheeseburger in Paradise locations.  

The company reported that sales in a recent quarter were down 3.1 percent from the same period last year. Officials attributed the decline to increasing costs and fewer guests.

Sponsored Content

Sponsored Content