Planet Hollywood International, Inc.

Product Details

Beautifully engraved antique stock certificate from Planet Hollywood International, Inc. dating back to the 1999. This certificate, which carries the printed signatures Demi Moore, Arnold Schwarzenegger, Sylvester Stallone and Bruce Willis, was printed by the American Bank Note Company and measures approximately 12" (w) by 8" (h).

This certificate features a pair of great vignettes - the Planet Hollywood logo at the top and a full color view of one of the company's restaurants along the left side.

Images

You will receive the exact certificate pictured.

Historical Context

Planet Hollywood was opened in late 1991 in New York City, blocks from Hard Rock Cafe. Arnold Schwarzenegger, Sylvester Stallone, Bruce Willis, Demi Moore and Whoopi Goldberg were some of the actors who became investors/promoters.

By 1993, locations were opened in London, southern California, and Chicago, Washington, DC, and Cancun, Mexico, while arranging leases for five other locations. Each new unit, opening with a gala event, generated nearly $15 million revenue in their first operational year.

With its success, the company continued its aggressive expansion plan in 1994 while turning its attention developing more theme-restaurant concepts. One of which was the Official All Star Café, a sports version of Planet Hollywood. Given the go ahead, they started recruiting professional sports figures and planning its stadium and home cuisine menu and planning its merchandise.

The brand's highest-grossing location unit was opened in Las Vegas in 1994 with double the usual seating to 500. This was followed later in the year by another 500-seater at Walt Disney World.

With expansion operating smoothly, the company started working on other area of growth in 1995. Construction on the All Star Café's first location in New York City began in August 1995 near the Planet Hollywood and opened on December 18, 1995. Development was started on a Marvel Comics based restaurant concept and on a Planet Hollywood Squares television game show with King World and Roseanne Barr's production company based on the Hollywood Squares. With the success of the merchandise, stand alone retail stores, Planet Hollywood Superstores were opened around 1996.

Public Corporation

As of the May 1998 IPO circular, the celebrities were only minor holders of stock. In April 1996, Planet Hollywood went public on the New York Stock Exchange at $18 a share. The company's share price reached an all-time high of $32 on the first day of trading; by 1999, it was down to less than $1. The company has gone bankrupt twice. In addition to going public, the company had MBNA issue Planet Hollywood VISA credit cards that gave cardholders priority restaurant seating. Planet Hollywood International and ITT Corporation formed a joint venture for Planet Hollywood casinos. The corporation and Marvel Entertainment Group agreed to launch the Marvel Mania comic book character-based restaurant concept. The company also had started to develop Chefs of the World concept, which would feature a "'star-studded' culinary staff".

The company planned to expand by 30 to 40 percent each year in annual revenue and the number of restaurant locations. Additional competitors also started up, including Country Star chain, Harley-Davidson Café, Robert DeNiro's Tribeca Grill and Thunder Roadhouse. Some speculated that the company had thinned its resources too much, and, with the trend of novelty location visits dropping, store revenue would continue to drop.

In September 1997, Planet Hollywood International Inc. announced its Cool Planet Cafe ice-cream shop chain which would open 10 locations in 1998. ITT Corporation and Planet Hollywood were in discussion early September 1997 for a Planet Hollywood hotel near Times Square. The corporation then formed on September 24, 1997, a joint venture for an Official All Star Hotel.

In the fourth quarter of 1997, the company recorded a $40 million loss. Too much focus on diversification showed that the original chain was neglected with mediocre food, high menu prices and below normal service. The franchise in Cape Town, South Africa, had a bomb attack in August 1998. $244 million in losses were recorded in 1998.

The first Marvel Mania opened in January 1998 near Universal Studios Hollywood. With MTV Networks, Planet Hollywood opened its first Sound Republic in London in Mid-1998. In July 1999, the company started its Planet Movies by AMC. In August 1998, the first Cool Planet Cafe opened in Santa Monica, California.

At a May, 1999, shareholder's annual meeting, the company indicated that a delayed-payment agreement was in negotiation and that they were renovating some and are considering closing other outlets.

By July, 1999, Planet Hollywood had sold its Orlando HQ for cash and leased it back for 15 years. On October 12, 1999, the company filed for Chapter 11 bankruptcy in an attempt to reorganize. They closed or sold poorly performing Planet Hollywood restaurants and Official All Star Cafes. It moved to focus to its original theme concept, stopping operation of Planet Movies by AMC and sold its Sound Republic units.

Schwarzenegger severed his financial ties with the business in January, 2000. Planet Hollywood exited Chapter 11 bankruptcy on May 9, 2000, with the approval of its reorganization plan. New celebrities were sought out for their restaurants while renewing relationships with early recruits. The plan included capital and debt restructuring including a cash infusion plus new products and improvements to decor and the menu. Planet's first website was launched with entertainment news and chat rooms. The restructuring plan left the company with 35 locations, 25 of which were franchised.

Barred due to its bankruptcy, Planet Hollywood International had relisted in May 2000 on the NASDAQ. In September, 2000, the Official All Star Cafe in Times Square was closed with the Planet Hollywood took over its 600 seat location. While this All Star location was profitable, Planet Hollywood was more profitable.

In October, 2001, Planet Hollywood International filed again for Chapter 11 bankruptcy. Blaming the economic slowdown from the September 11 attacks, the company had $135 million in debt.