Luby's to acquire Fuddruckers

Cafeteria chain Luby's plans to pay about $61 million to acquire the assets of Fuddruckers and the burger chain's parent Magic Brands. The company was the high bidder in an auction for the 30-year-old chain, which filed for Chapter 11 protection in April. The deal, which still requires court approval, is likely to pay Fuddruckers' creditors in full, the company said.

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American City Business Journals · Wall Street Journal, The

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