[citation needed] In 1998, its corporate history was notable for having its board of directors ousted by an institutional investor TIAA-CREF.

[5] Shortly afterward, the company was sold to a private investment firm, CIC-Buffet Partners, an affiliate of Cardinal Investment Co.[6] In January 2014, Furr's closed several locations, including Las Cruces, New Mexico,[7] Big Spring, Texas,[8] Wheat Ridge, Colorado, and Wichita, Kansas.

"[10] In June 2014, Furr's Fresh Buffet was sold to a San Antonio company (Food Management Partners), which planned to begin opening new sites.

[13][14] Several of the owners of Fresh Acquisitions and its related entities (Jason Kemp, Allen Jones, Lawrence Harris, and Brian Padilla) have been named in multiple lawsuits alleging serious fraud and theft of money from both their business partners and the federal government.

[15][16][17][18] One of these suits was filed by the bankruptcy trustee in the April 20, 2021 bankruptcy case and alleges the theft of $13M of Paycheck Protection Program Loans by Jason Kemp, Allen Jones, Lawrence Harris, and Brian Padilla.