20 Restaurants And Chains That May Close In 2020

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Luby’s

Source: https://www.waltonsignage.com

Luby’s used to be a Texas institution for over 65 years, but it looks like Texans are losing their appetites for the homegrown cafeteria chain. There used to be a Luby’s in every corner, but due to sales problems, Luby’s has closed four stores it just opened in 2019. This is not a good sign. It seems that cafeterias are going out the window like video stores. It is also reported that the company is in debt for around $35.9 million. With declining sales, the company is in a deep hole, and more outlets are expected to close. Well, they haven’t thrown in the towel just yet. The company says it is currently exploring strategic alternatives – most likely finding an investor, or selling the brand completely.