Planet Hollywood International Inc

* Struggling theme restaurant operator Planet Hollywood International Inc. said its president and chief operating officer, William Baumhauer, resigned after just one year with the company. The company said Baumhauer is leaving to pursue other interests. A spokesman for the company, whose owners include film stars and a movie producer, said no decision had been made yet on whether to seek a replacement for Baumhauer.

Planet Hollywood International Inc. on Monday won approval to emerge from bankruptcy protection for the second time in two years and began focusing on regaining its stature in a battered theme-restaurant industry that peaked in the late 1990s. U.S.

Planet Hollywood International Inc., which filed for Bankruptcy Court protection in October, doesn't expect to make money until fiscal 2004, according to recent filings. The restaurant chain said in a filing last month that it has completed a reorganization plan in which founder Robert Earl retains his chief executive title during the recovery effort. In an attachment to the plan, officials predict the Orlando, Fla.

Planet Hollywood International Inc. wrote off $5 million in loans to celebrities and created a "tangled web" of insider deals that benefited top executives and other insiders, an independent review of the company shows. The once highflying restaurant company, which counted Arnold Schwarzenegger, Bruce Willis, Demi Moore and Sylvester Stallone as celebrity backers, is struggling to emerge from bankruptcy protection for a second time in two years.

Planet Hollywood International Inc. said it will make over its movie-themed eateries and exit secondary businesses, with an eye to stopping financial losses by 2000. Planet Hollywood, which lost money in the first nine months of 1998, said it will take a year-end charge of between $130 million and $160 million for the moves. It said sales at its restaurants open a year or longer fell 19% in the fourth quarter and it expects a 26% drop in total revenue to $75 million for the period.

Sylvester Stallone has sued his former business manager, claiming that his financial advice led the actor to lose as much as $10 million on the stock of Planet Hollywood International Inc., a theme restaurant chain. Stallone, who along with fellow Hollywood celebrities Arnold Schwarzenegger and Bruce Willis helped launch Planet Hollywood in 1996, claims Kenneth Starr of Starr & Co. dissuaded him from selling his 3.9 million shares when the stock traded as high as $20 in 1997.

Planet Hollywood International Inc. is seeking to speed construction of restaurants overseas by offering new financial incentives to one of the company's primary franchisees, Prince Alwaleed bin Talal of Saudi Arabia. The billionaire investor, a nephew of Saudi Arabia's King Fahd, has agreed to develop Planet Hollywood restaurants in 23 countries in the Middle East and Europe.

Planet Hollywood International Inc., which operates about 80 movie-themed restaurants, said it hired Goldman, Sachs & Co. and Bear Stearns & Co. to help find ways to boost the value of its shares. The Orlando, Fla.-based company said the investment firms will open discussions with potential financial and strategic partners. They will also consider buying back shares and other alternatives. Shares of the once highflying chain have fallen 73% over the last year as repeat customers have been few.

Actor Arnold Schwarzenegger and Planet Hollywood International Inc. said Tuesday that they are ending their formal association after nearly nine years, just as the Orlando, Fla.-based restaurant chain is emerging from bankruptcy reorganization. Schwarzenegger in 1991 joined fellow action stars Bruce Willis and Sylvester Stallone in lending their names and memorabilia to the chain in exchange for stock.

Planet Hollywood International Inc. said Friday that it and 18 of its units had filed for Chapter 11 reorganization in U.S. Bankruptcy Court in Delaware, saying the aftermath of the Sept. 11 terrorist attacks had affected the restaurant chain's core business. The Orlando, Fla.

Sylvester Stallone has sued his former business manager, claiming that his financial advice led the actor to lose as much as $10 million on the stock of Planet Hollywood International Inc., a theme restaurant chain. Stallone, who along with fellow Hollywood celebrities Arnold Schwarzenegger and Bruce Willis helped launch Planet Hollywood in 1996, claims Kenneth Starr of Starr & Co. dissuaded him from selling his 3.9 million shares when the stock traded as high as $20 in 1997.

Planet Hollywood International Inc. said Friday that it and 18 of its units had filed for Chapter 11 reorganization in U.S. Bankruptcy Court in Delaware, saying the aftermath of the Sept. 11 terrorist attacks had affected the restaurant chain's core business. The Orlando, Fla.

Robert Earl believed in celebrity. And parties. He believed that if you put them together--with red caxrpets and spotlights--people would come. More importantly, they'd buy. Not only food, but T-shirts and sweatshirts and $14 baseball caps.

Actor Arnold Schwarzenegger and Planet Hollywood International Inc. said Tuesday that they are ending their formal association after nearly nine years, just as the Orlando, Fla.-based restaurant chain is emerging from bankruptcy reorganization. Schwarzenegger in 1991 joined fellow action stars Bruce Willis and Sylvester Stallone in lending their names and memorabilia to the chain in exchange for stock.

Struggling restaurant chain Planet Hollywood International Inc. said Thursday it will close its high-profile Beverly Hills restaurant in February as it sheds poorly performing outlets in an effort to emerge from bankruptcy as a profitable company.

Planet Hollywood International Inc., which filed for Bankruptcy Court protection in October, doesn't expect to make money until fiscal 2004, according to recent filings. The restaurant chain said in a filing last month that it has completed a reorganization plan in which founder Robert Earl retains his chief executive title during the recovery effort. In an attachment to the plan, officials predict the Orlando, Fla.

Hoping to end its bankruptcy drama as a smaller but profitable company, Planet Hollywood International closed nine of its company-owned restaurants Monday, including one in Santa Ana. "Thanks for a great 7 years," said a sign at the restaurant across from South Coast Plaza, where Bruce Willis, Sylvester Stallone and Arnold Schwarzenegger--among the chain's many celebrity investors--partied away one night in October 1992.

Hoping to end its bankruptcy drama as a smaller but profitable company, Planet Hollywood International closed nine of its company-owned restaurants Monday, including one in Santa Ana. Robert Earl, the co-founder and chief executive of the movie-themed chain, said he hopes a new Orange County location will replace the "underperforming" restaurant across from South Coast Plaza.