LONDON (CNNfn) - Officials burst into Planet Hollywood's flagship London restaurant early Tuesday and evicted the troubled company for non-payment of rent.
Bailiffs acting for landlord Burford Holdings (BUO) drilled out the locks at the site in London's tourist heartland, Piccadilly, because Planet Hollywood had failed to pay 360,000 pounds ($594,000) in overdue rent.
However, by midday the restaurant chain had paid up the overdue cash, and officials were given keys to the new locks that had been installed.
Burford "was concerned that the money wasn't going to be repaid," said a spokesman for the London-listed property company. "We just want to make sure we get rent at the market rate."
Celebs go belly up
The Planet Hollywood site is in Piccadilly, one of London's most popular areas with an estimated 60 million people passing through every year. Despite its glamorous setting, the Planet Hollywood restaurant is immediately opposite another celebrity restaurant that went belly-up, the supermodel-backed Fashion Café.
Planet Hollywood, famed for the A-list stars who held a stake in the company, such as Arnold Schwarzenegger and Bruce Willis, began selling upscale fast-food in London in 1991, and had 80 outlets worldwide, although some U.S. restaurants have been scheduled for closure.
The ailing company filed for Chapter 11 bankruptcy protection in early October.