Wednesday, August 6, 2008

But will they make the portions larger?

I don't think that's humanly possible, and it might even be actionable. What am I talking about? Buca, Inc., known for its family-style Buca di Beppo restaurants, has been acquired by Planet Hollywood. The chain had been struggling with losses, caused in part by financial mismanagement that ended up seeing some of its execs go to jail.

(Courtesy of Traffic Court.)

Buca has some good dirt locations, and I assume PH will keep the chain running. But you never know when something ends up becoming a dirt play; e.g., Vornado's takeover of Virgin -- Michigan Avenue's gone and now the Times Square outlet will close, allowing rents to go up from $54 a foot to some $700! That's a nice jump.

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