Planet Hollywood

With high-profile investors such as Bruce Willis, Demi Moore, Whoopi Goldberg, Arnorld Schwarzenegger and Sylvester Stallone, Planet Hollywood was a guaranteed success when it launched in 1991. The chain expanded quickly and soon had 80 restaurants worldwide. However, in 1999, the company became bankrupt and numerous restaurants were forced to be shut down.
Why is this? Well, firstly, the company exanded way too quickly launching new restaurants before they even saw a profit from the originals. Their original plan was to open 300 restaurants by 2003. A major factor was their food. People go to restaurants because of the food, but Planet Hollywood never advertised this aspect of the business. Therefore, Planet Hollywood only attracted 'one-time' visitors. They were only lured by the memorabilia of today's pop culture. Planet Hollywood was therefore seen as a 'been there done that'. There was no reason for people to come back.