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The sale of the Planet


Does this sound like a company in trouble? "We are a creator and worldwide developer of consumer brands that ... capitalize on the universal appeal of movies, sports and other entertainment-based themes. Since we commenced operations in October 1991, the Planet Hollywood name and distinctive logo design have become among the most widely-recognized trademarks in the world."

But that's how Planet Hollywood described itself in its Dec. 10 filing announcing the sale by a large stockholder of more than 15 million shares in the company.

Planet Hollywood said this week that its credit had been cut off and that it hoped to sell its new Orlando headquarters for $20 million to raise cash.

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