Morton's May be for Sale

Published on Tuesday, March 22, 2011

Written by The Editors

Morton'sRestaurant Group, Inc. (NYSE: MRT) is exploring its options to enhance shareholder value, which may include selling the company.

The company has retained Jefferies & Company, Inc. as its financial advisor to assist in this process.

No definitive timetable has been established for this process.

For its 12 month fiscal period ending January 2, 1011, Morton's reported revenues increased 5.3 percent to $296.1 million and comparable restaurant revenues for Morton's steakhouses increased 4.8 percent.