Goodbye to a Texas Icon
By Diego Garcia III | Editor of The Brownsville Beacon The first Luby's in Downtown San Antonio Bob Luby opened his first cafeteria in San Antonio in 1947. Seventy-three years later, newspapers across the state reported the iconic Texas restaurant would be sold off to try and give shareholders back some return on their investment. The Houston Chronicle reported Luby's will sell off its assets "to pay shareholders long unhappy with the Houston company's financial performance." The company, which also owns Fuddruckers, has been struggling over the last few years, and has been losing revenue steadily. Luby's reported a 3.8 million dollar loss this past quarter. The powers-that-be said some restaurants would remain open while the selling off of the company goes forward. I was not shocked when I read about the company deciding to sell off its remaining assets and real estate. The two Brownsville locations are already closed. I figured it was only a mat...