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Planet Hollywood buys restaurants

Orlando-based Planet Hollywood International Inc. has agreed to buy struggling Buca di Beppo, a chain of 88 Italian restaurants including one in Brandon, for $28.5-million. That includes buying outstanding shares for 45 cents apiece and assuming of $19-million in debt. Italian slang for Joe's Basement, Buca di Beppo got its name from the inaugural store that was in a basement apartment in downtown Minneapolis. The company lost $16-million in 2007, a year in which a former chef executive officer settled charges he embezzled $850,000.

Planet Hollywood buys restaurants 08/07/08 [Last modified: Thursday, August 7, 2008 9:01pm]
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