Yes, that's pretty much it. I know Jack Phare and Linda Hebert, who were the ones running Dupuis for many years. If I remember correctly, they took it over from Linda's father, who also had been leasing it from the Dupuis.
When the Dupuis' decided to end the lease with the Phare/Hebert's, and start running it themselves I think that Jack/Linda first tried to stop it from happening, and when that failed they then decided to open their own place up. Can't remember the details, but there was also some legal issues about what they could....and could not....call the new place. The Dupuis did not want them to use anything with their name in it, hence "Shucks" was born.
Considering how well Shucks turned out, in the end it was a great thing for Jack/Linda and their families.