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ORLANDO-Emerging from Chapter 11 protection from creditors last year, the reorganized 60-restaurant Planet Hollywood company is sticking to its core operations converting, closing or selling unprofitable locations.

For example, by year end, the Orlando-based chain plans to convert its Time Square Official All Star Cafe to a regular Planet Hollywood restaurant displaying movie star memorabilia throughout the premises.

When the conversion is finished, the company will be closing its Planet Hollywood unit on 57th Street in New York because that restaurant will be only nine blocks from the Times Square unit’s location. The All Star Cafe on 45th Street closed last week.

The chain has two All Star Cafes remaining in Miami Beach, FL and Myrtle Beach, SC. Company officials are undetermined what the fate will be of those two properties but industry sources suggest they may be either closed, sold to a franchised operator or converted to a Planet Hollywood restaurant.

Worldwide, Planet Hollywood has 29 company-owned outlets and generates liclensing revenue from another 28 franchised Planet Hollywoods and four All Star Cafes. One All Star Cafe is operated in Lake Buena Vista, FL by Walt Disney World.

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