Date of Report (Date of earliest event reported)  June 7, 2004

On June 7, 2004, Luby's, Inc. issued a press release announcing the refinancing of its senior credit-facility debt.  The refinancing was done through two separate lending arrangements.  The first is a line of credit for $50 million funded by a group of four banks.  The second instrument is a term loan funded by an independent financial institution.  Both agreements are for three years and have resolved the default associated with the Company's debt.  In addition to establishing new senior replacement debt, the Company has also renegotiated its subordinated notes, with a new term of seven years, and finalized new management contracts with its President and CEO, as well as its COO.  A copy of the press release is attached hereto as Exhibit 99.  

The foregoing summary is subject to the full text of the transaction documents and the press release with respect thereto.  The agreements with the Company's lenders and management team will be filed as exhibits to the Company's upcoming Quarterly Report on Form 10-Q.

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.