Luby’s Wins Funddruckers 0
Houston, Texas based food service company has won the bid for Fuddruckers restaurants. The Fuddruckers restaurants are owned by the Magic brands LLC. 60 Fuddruckers restaurants along with 3 Koo Koo Roo restaurants were involved in the deals, which are located in the Austin, Texas area.
The other favorites, Windermere based restaurant chain owners Tavistock Group Inc were out bid with their bid of $40 million to Luby’s bid of $61 million. Travistock owns various restaurants that include from fast track to fine dining in California. Some of its chains include Free birds World-Burrito, ZED 451, Café DelRey, NapaValley Grille, Black Hawk Grille, California Café, Alcatrez-brewing Co and Sapro. The chapter 11 filing was files in the month of April for reorganization and as many as 24 restaurants were closed down as part of the reorganization plan. The deal only involved the 0 Fuddruckers restaurants in Austin, Texas and do not include the other 135 Fuddruckers restaurants around the nation and are franchised by private companies.
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