Planet Hollywood has placed its London restaurant into administration.
The business, owned by billionaire Robert Earl, filed a notice of administration under its new name of ABC Restaurant Group LLC at the high court on 2 January. It changed its name on 24 December 2008.
Begbies Traynor has been appointed to handle the collapse of the restaurant, which was co-owned by a number of Hollywood stars, including Arnold Schwarzenegger, Sylvester Stallone and Bruce Willis.
Its lease at London’s Trocadero, W1, expired on 3 January. It had been a tenant in the West End venue for 16 years.
A spokesman for Planet Hollywood said it still planned to move to move to a new £5m base in Haymarket – where it is expected to pay an annual rent of £3m – in April. He would not comment further on the administration.
