Planet Hollywood

“Construction delays can easily become a financial disaster. FGI kept that from happening by securing the financing needed. FGI was able to obtain a competitive loan for us, without complications and with FGI’s help we were able to meet our timeline commitments as planned.”

–Bruce Hawkins, CFO, Planet Hollywood

Introduction

Planet Hollywood patrons have celebrated delicious food, entertainment memorabilia and signature fashion since the restaurant and retail chain launched in 1991. There are nine locations around the world, with one of the most popular locations at Times Square in New York City.

Challenge

Planet Hollywood decided it was time to renovate their Time Square location. Due to unexpected delays in the financing of the construction and other expenses, the restaurant had to find a short-term loan. Through a close referral source, Planet Hollywood’s management team was introduced to FGI.

Solution

FGI assessed the situation and then spoke to a hybrid finance firm who was able to provide Planet Hollywood with a creative bridge loan that would handle the balance of the construction costs. The loan was structured to be paid back in a short period of time through the strength of Planet Hollywood’s cash flow.

Results

From the time FGI was contacted by Planet Hollywood with the financing request, it only took 3 weeks to receive the funding. The rapid turnaround prevented construction delays that could have disrupted restaurant operations and cost Planet Hollywood lost revenue.

Success Stories