Fuddruckers at the Boardwalk Could Be Closing Down
Fuddrucker's used to be a popular restaurant chain, when Fuddruckers decided to open up at the Boardwalk in Bossier, a lot of folks were excited. Every time I have gone to our local Fuddruckers it's always busy, I guess I have dined there during peak hours. However, in the past decade, Fuddruckers has suffered from a significant drop clientele and has been forced to close several locations. Could the Bossier location be next?
According to CNN on Tuesday, the board of directors of Luby’s and Fuddruckers approved a plan to liquidate both restaurant chains. In Early 2019, Luby’s Inc announced that they would sell some of the corporate-owned Fuddruckers locations to franchisees in order to pay off the rising debt. That plan didn't help the looming debt, the company is forced to make some serious decisions.
CNN claims that both of the Texas-based restaurants have taken huge hits during the pandemic. Luby's restaurant sales fell 75% in the quarter ending in early June compared to the same period last year. At Fuddruckers, the sales were atrocious, their numbers fell by nearly 91%. Can you say "yikes!"?
2019 started off with 57 Fuddruckers locations throughout the country. Right now, only 31 remain, and 25 of the remaining restaurants are closed "temporarily" due to COVID-19. Could the pandemic be what puts the final nail in the coffin for both Luby's and Fuddruckers?
Members of the company's board announced the plan to liquidate, which includes selling all assets including real estate with the goal of returning cash to their shareholders.
Fuddruckers is located at the Louisiana Boardwalk Outlets their address is Boardwalk, 330 Plaza Loop, Bossier City, LA 71111