On October 12, 1999, the company filed for Chapter 11 bankruptcy in an attempt to reorganize. They closed or sold poorly performing Planet Hollywood restaurants and Official All Star Cafes. It moved to focus to its original theme concept, stopping operation of Planet Movies by AMC and sold its Sound Republic units.
Everything depends on how much the company paid for the assets in the sales. Stockholders are the last ones to be paid after all debts are paid. If all debts are paid can the remaining of what is left become a shell company and still trade or will all shares be canceled.
For shareholders at this point what do you have to lose by waiting to figure it out.
I hope the company was sold in a bidding war and i hope all shareholders get something
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