Planet Hollywood

Planet Hollywood, a theme restaurant chain inspired by the popular portrayal of Hollywood, was launched in New York on October 22, 1991, with the backing of Hollywood stars Sylvester Stallone, Bruce Willis, Arnold Schwarzenegger, and Demi Moore.

Related Topics:
Hollywood - New York - October 22 - 1991 - Sylvester Stallone - Bruce Willis - Arnold Schwarzenegger - Demi Moore

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It was a brainchild of Robert Earl. The stars received stock options at rock bottom price in exchange for their endorsement. Thus the celebrities could be billed as legal owners. In April 1996, Planet Hollywood went public. However, the restaurants had many vacant seats most of the time and gradually lost on reputation. With each new opening, the brand name became diluted. The company went bankrupt twice. Its share price reached all time high of $32 on the first day of trading and went down to less than $1 by 1999.

Related Topics:
Robert Earl - 1996 - 1999

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