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	Vol.7, No 28, October 18, 1999
	Closing Holly-wood Planet Hollywood, the movie-theme restaurant closed nine locations Monday, including one in Costa Mesa. The closures are part of a pre-planned Chapter 11 bankruptcy filed Wednesday.   The company cited the downturn of merchandise sales as one reason for the closures. The company, Planet Hollywood International, generates approximately 25 percent of its revenue from the sales of T-shirts, hats and various mugs and glasses.   What the stockholders did not realize is that once people buy those keepsakes, they generally do not need to buy any more.   Generating a quarter of the company's revenue from souvenir sales is probably not a great idea.   Besides, why would people want to go to a restaurant that serves overpriced, mediocre food? When a hamburger costs an arm and a couple of toes, it better at least taste good.   The fact remains that no matter how many balding, buffed-out movie stars play harmonica in a restaurant, people still want good food, especially if the dinner costs the same as feeding 61 starving children in underdeveloped nations.   Planet Hollywood was able to get a $30 million loan from its major investors -- a Saudi Arabian prince and a billionaire from Singapore. That probably represents the only hope for the chain.   The only people who will be willing to eat such high-priced, bad-tasting food are foreign tourists attracted to the bug-zapper lure of Hollywood. That's why the restaurant in Las Vegas is not on the closure list.		Pyramid concert details released   Sedan smacks into campus shuttle   Skateboarders defy on-campus rules   Campus art teaches about domestic abuse   Retiring professors leave voids in CSULB classrooms Closing Holly-wood   Little merit in background check Alumni share their FX secrets with campus   Pantera still confident in its metal sound   Conference shuffle may have domino effect Fall 99 ISSUES DAILY 49ER HOMEPAGE
Forty-Niner Publications, Department of Journalism, California State University, Long Beach ©1999 All rights reserved.