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Themed restaurant closes

Thursday, Sept. 6, 2001 | 11:13 a.m.

SEATTLE -- Six years ago Planet Hollywood's arrival here was hailed as a crucial link in revitalizing the downtown core.

Wednesday the restaurant, which was unable to turn a profit here, closed.

The Planet Hollywood restaurant chain, based in Orlando, Fla., has been plagued by financial problems. The company emerged from Chapter 11 bankruptcy reorganization about 14 months ago and is still struggling with profitability.

"The Seattle location was one we felt, after assessing, was not much of an opportunity for us," said Amy Sadowsky, a spokeswoman for Planet Hollywood. "The restaurant was not profitable."

Planet Hollywood, a 10-year-old chain with 60 restaurants throughout the world, opened here in July 1996. At its peak, the chain had 80 restaurants. In Las Vegas, Planet Hollywood has a restaurant at the Forum Shops at Caesars.

With a tight 2 percent retail vacancy rate in downtown Seattle, Planet Hollywood's departure isn't seen as crippling to the area.

"No one comes downtown just for Planet Hollywood, they come for the whole downtown experience, they make the whole circuit, to Nordstrom, Niketown and us," said Jeffery Fong, general manager at FAO Schwarz.

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