Chief quits ailing Planet Hollywood

Guy Laurence has left his role as executive European vice-president of marketing for the ailing themed restaurant chain, Planet Hollywood.

Laurence only took up the role a year ago, after joining the chain from the film industry. He is the first senior European figure to leave the chain, which has seen its fortunes plummet spectacularly over recent months.

Final quarter sales for last year slumped from 64m to 47m comparing the same period in 1997. In the US, where the company is quoted, its shares have fallen from a high of 18 to 2 earlier this week.

Planet Hollywood, which has 27 outlets worldwide, had planned to launch a sports chain called All Star Café and a number of other brand extensions.

A music chain called Sound Republic was launched last year, but Planet Hollywood president William Baumhauer said earlier this month that all other projects would be scrapped.

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