The planned year-end closure of the Blackhawk in Wheeling, Ill., after 40 years in operation highlights some of the difficulties now facing family-owned restaurants. Given the tough economic environment, family-owned businesses need not only interested successors to remain viable, but also a firm grasp of what the business is worth and a structured succession plan for turning the enterprise over to the new generation, experts say.The Blackhawk, opened in 1969, will close ...
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