Morton's Steakhouse Chain Looking For a Buyer? | Squid Ink | Los Angeles | Los Angeles News and Events | LA Weekly
Loading...
Restaurant News

Morton's Steakhouse Chain Looking For a Buyer?

Comments (0)

By

Wed, Mar 16, 2011 at 10:33 AM

click to enlarge Morton's in downtown LA. - GUZZLE & NOSH.
Morton's, Arnie Morton's, Morton's The Steakhouse... whatever you want to call it, the upscale steakhouse chain with 77 locations may be looking for a new daddy. Parent company Morton's Restaurant Group has begun "exploring strategic options," including a possible sale, reports NRN.

After a tough couple years for the high-end chain, which relies on plenty of corporate credit cards to pay for those $49 double-cut filet mignons and $17 burgers, business travel and convention attendance have begun rebounding with same-store sales rising 4.8% for 2010.

With locations in Burbank, Woodland Hills, downtown LA and near Beverly Hills, Morton's is something of an institution -- albeit a prefab, corporate-owned one. The Chicago-based company has been public since February 2006, and also operates Trevi, an upscale Italian restaurant chain in Las Vegas.

Related Location

Related Content

Now Trending