CHICAGO (AP) — Chicago's Second City comedy theater is up for sale. The sale, announced Tuesday, is the second in the company's 60-year history.

In a statement released by investment banker Houlihan Lokey, co-owner Andrew Alexander said a sale presents the opportunity for Second City to continue to succeed well into the future.

Second City suspended all its shows and classes in early March due to the COVID-19 pandemic until further notice.

Second City faced controversy in June when Alexander stepped down from the training and performance troupe due to allegations of racism within the company.

Second City was an early training ground for "Saturday Night Live" players including John Belushi, Dan Aykroyd, Gilda Radner, and Chris Redd.