Well-placed gossip minions deep inside Portland's restaurant world say that after a few months of being up-for-grabs, the entire Pacific Coast Restaurants chain is being sold
to a deep-pocketed Seattle investor. The PCR brand includes Portland City Grill
—by far the city's highest grossing restaurant—Henry's 12th Street Tavern (said to be number two in town), The Portland Steak and Chophouse, Manzana, Newport Bay and Stanford's.
According to the rumor mill (company officials are keeping their lips sealed on the subject), employees needn't worry—the buyer is not likely to make big changes. PCR, as its 1,800 employees lovingly call it, was born in 1980 when partners Al Fleenor and Robert MacLellen turned a failing seafood restaurant at Washington Square into the first Newport Bay, according to the company website. It currently operates 27 restaurants in three states.