Getting your player ready...
Luby’s Inc., the owner of cafeteria-style restaurants in the southern U.S., will buy insolvent burger chain Fuddruckers for about $61 million in cash, expanding into northern U.S. states.
Luby’s won the assets — which include Fuddruckers Inc., Magic Brands LLC and other affiliates — in an auction Thursday, according to a company statement. The deal is subject to bankruptcy court approval, Luby’s said.
