Morgan Freeman shuts restaurant

London: `Million Dollar Baby` star Morgan Freeman has closed his restaurant in Mississippi after the business failed to turn a profit in 10 years.

The 74-year-old actor set up the Madidi Restaurant in Clarksdale, Mississippi in 2001 with his business partner Bill Luckett, but the pair decided to shut down the eaterie due to financial issues, reported Contactmusic.

They held a closing party for the venue and Luckett says they were both sad to see the restaurant close.

"We thank the many who dined with us over the years... The restaurant has never made money. It was never about the money to us. "Success is not always measured in financial gains.

"There is a satisfaction in helping your community and exposing people to something they haven`t been exposed to. We set out to offer an experience. Thanks to Morgan, and to me to a lesser degree, we had the capital to do that," Luckett said.