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Luby's, Inc. (NYSE: LUB) is finalizing its liquidation process, with the last day of trading for its common stock on the NYSE set for May 27, 2022. Shareholders will receive units in the LUB Liquidating Trust for each share held upon the transfer of remaining assets and liabilities on May 31, 2022. The average value of these units will be determined by the stock's last three trading days. Luby's has completed the sale of its restaurant brands and continues to market remaining real estate for sale, having paid out $2.70 per share in cash liquidating distributions.
Luby's, Inc. (NYSE: LUB) announced that May 27, 2022, will be the last day its shares trade on the NYSE as part of a liquidation process. The Board of Directors has resolved to transfer the company’s assets to a Liquidating Trust on May 31, 2022, leading to the dissolution of the company. All outstanding shares will be canceled, and stockholders will receive units in the Trust—non-transferable and not traded publicly. The Trust will manage the sale of remaining assets to pay liabilities and distribute cash to stockholders, though timing and proceeds are uncertain.
Luby's, Inc. (NYSE: LUB) announced a cash liquidating distribution of $0.20 per share, payable on May 24, 2022, to shareholders of record as of May 17, 2022. This distribution comes from net proceeds of recent property sales, following previous distributions of $2.00 on November 1, 2021 and $0.50 on March 28, 2022. Luby's is in the process of liquidating assets and currently owns 18 real estate locations, with 7 under contract for sale. The company aims to benefit its shareholders as it moves towards dissolution, a plan approved on November 17, 2020.
Luby's, Inc. (NYSE: LUB) announced its financial results for Q2 ended March 9, 2022, under a liquidation basis of accounting. Following shareholder approval for liquidation on November 17, 2020, the estimated future aggregate liquidating distributions remain unchanged at $2.89 per share, declining to $2.39 after a $0.50 distribution paid on March 28, 2022. During Q2, Luby's sold 4 real estate assets for approximately $10.3 million and completed the sale of its Culinary Contract Services business. The company continues to seek buyers for its remaining assets, anticipating final liquidation by June 30, 2022.
Luby's, Inc. (NYSE: LUB) announced a cash liquidating distribution of $0.50 per share to be paid on March 28, 2022, to shareholders of record as of March 21, 2022. This distribution follows a previous payment of $2.00 per share on November 1, 2021. The funds are sourced from recent property sales, with Luby's currently marketing 18 real estate locations and having six under contract. The company's plan for liquidation and dissolution was approved by shareholders on November 17, 2020.
Fuddruckers has launched new combo menus at 14 locations, featuring gourmet plant-based offerings developed in partnership with leading brands like BEYOND MEAT. CEO Nicholas Perkins emphasized the company's commitment to quality and the growing demand for plant-based options. The new menu aims to cater to a diverse clientele, including vegans and meat-eaters. This initiative is part of Fuddruckers' strategy to enhance their offerings while maintaining their reputation for customizable gourmet burgers. The locations include restaurants in Texas, Arizona, Kansas, Missouri, and Virginia.
Luby's, Inc. (NYSE: LUB), in its first quarter financial results for the period ending December 15, 2021, continues with its liquidation plan approved on November 17, 2020. The company estimates future liquidating distributions at $2.89 per share, reflecting a decrease of $0.11 from previous estimates due to reduced projected operating results. In Q1 2022, Luby's sold its Cafeteria brand for $28.4 million and 32 properties for $103.9 million. The remaining debt of $17 million has been fully repaid, and a cash distribution of $62.2 million was issued to shareholders on November 1, 2021.
Luby's, Inc. (NYSE: LUB) announced its fiscal year 2021 results, reporting an estimated net asset liquidation value of $5.00 per share. Following a cash distribution of $2.00 per share on November 1, 2021, the remaining estimated distribution is $3.00 per share. This increase of $0.87 per share from the previous quarter is attributed to successful real estate sales and better-than-expected operating results. Luby's is proceeding with its liquidation plan, projected for completion by June 30, 2022, after selling restaurant brands and several real estate assets.
Luby's, Inc. (NYSE: LUB) announced a cash liquidating distribution of $2.00 per share, to be paid on November 1, 2021, to shareholders recorded by October 25, 2021. The distribution comes from proceeds of recent property sales. The NYSE has set the ex-dividend date for November 2, 2021, meaning shares sold before this date will not qualify for the distribution. Luby's is in the process of liquidation, having previously sold its restaurant brands and seeking buyers for its remaining assets.
Luby's, Inc. (NYSE: LUB) announced the completion of the sale of 26 real estate properties to STORE Capital for $88 million. The sale proceeds were used to fully repay senior lender MSD PCOF Partners VI, LLC. Following shareholder approval for liquidation in November 2020, Luby's adopted the liquidation basis of accounting, eyeing projected future liquidating distributions of approximately $4.89 per share. The company continues to seek buyers for its Culinary Contract Services and remaining properties, with liquidation expected to conclude by June 30, 2022.
