CHICAGO — In June, in an attempt to take the fall for internal turmoil, Andrew Alexander, the longtime co-owner of Second City, announced plans to remove himself from the famed comedy theater and put his share up for sale. On Tuesday, a Los Angeles-based investment bank put the whole institution up for sale. Second City is a mainstay of Chicago’s famed theater scene but also is a for-profit, live-entertainment operation devastated by a forced closure.
“What we are seeking is critical reinvestment in the business that will allow us to continue to grow in the right ways and with the right resources while remaining an oasis of speaking truth to power and providing vital human connection in an increasingly complex world,” Alexander said in a statement released by the bankers, Houlihan Lokey.
“I do think the plan to sell the whole company presents the opportunity for Second City to continue