It has been a difficult year for many businesses, from small local restaurants to large chains. crazypeople was among the big names in danger of disappearing, despite demand for its iconic burgers from longtime fans. But after months of liquidation hearings, the company, whose slogan is “the world’s greatest burgers”, has been rescued and will live on to serve more customers.
Catering company reported that Luby’s Inc., the parent company of Fuddruckers, had entered into an $ 18.5 million buyout deal with Black Titan Franchise Systems, which already owned 13 Fuddruckers restaurants (soon to be 15) prior to the takeover. Now, the company will take global ownership of the brand and be allowed to expand in the US or overseas if it decides it’s the best move.
To date there is less than 100 Fuddruckers slots in the United States, and these restaurants are expected to remain open, although nothing has been confirmed yet.
“As a Fuddruckers franchisee, I have a vested interest in ensuring that all Fuddruckers franchisees have the resources, infrastructure, and operational and marketing support they need to maximize their return on investment,” said Nicholas Perkins, Black Titan CEO, in a statement.
Fuddruckers’ parent company announced plans to liquidate in September 2020. Luby’s Inc. said at the time that it had failed to secure offers from companies looking to buy its business and repay its debts. . The Texas-based company said it plans to receive any offers that are received throughout the liquidation process, but has no hope for the future of the channels it owns.
Luby’s Inc. will still be dissolved as a business in June 2022, but Fuddruckers will continue to serve hot and juicy burgers for at least a little longer.
Comments are closed.