PORTLAND, Ore. — The last McCormick & Schmick’s restaurant is closing in the city where the chain’s company was founded.
Co-founders Bill McCormick and Doug Schmick formed the business in 1974 as a private firm. McCormick had, around that time, purchased Jake’s Famous Crawfish Restaurant.
The company’s brief history includes its $24 million sale in 1994 to Castle Harlan Inc., a private investment company that planned to take it public but instead sold it to Apple South Inc., later Avado, in 1997 for $53 million.
In 2001, Avado sold the chain to a joint venture between Castle Harlan and Bruckman, Rosser, Sherrill Co. for $123.5 million.
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