Chart House to Relocate to Chicago
Chart House Enterprises Inc. said it plans to relocate its corporate headquarters from Solana Beach to Chicago in March. The company, which operates 61 restaurants in the U.S. and Puerto Rico and also operates the Solana Beach Baking Co., said the main reason for the move is to bring its corporate operations closer to its key strategic partners, namely Chicago-based Equity Group Investments Inc., the investment firm headed by real estate mogul Sam Zell. Equity Group bought 3.4 million shares of Chart House in March. The relocation will affect about 60 employees at the Solana Beach headquarters. The company said employees who do not relocate or remain in the regional San Diego office will be fired. Chart House shares fell 6 cents to close at $7 on the NYSE.