Planet Hollywood, the theme restaurant chain backed by movie stars, said yesterday it would seek a court-appointed restructuring order under US bankruptcy laws after announcing it would close nine of its 32 US outlets.

By 1998, two years after its high-profile stock market launch, Planet Hollywood had accumulated losses of $244 million. In the second quarter of 1999, sales fell to $76.6 million from $105 million in the same period of 1998. Second-quarter losses were $28 million dollars. The stock, which was worth $30 three years ago, was quoted at 20 cents yesterday.

The company - which has already stated its 70 staff in Dublin will not be affected by the restructuring - said in a statement in Miami that it would file a petition with a court in Delaware under Chapter 11, which allows debtors and creditors an opportunity to work out their differences.