World Wrestling Entertainment, Inc. To Close Restaurant
STAMFORD, Conn.--(BUSINESS WIRE)--Feb. 25, 2003--World Wrestling Entertainment, Inc. announced that effective today, it will close its restaurant located in New York City. "We have ceased the restaurant operation as of today, but we will continue to operate the retail store until April 27, 2003," said Linda E. McMahon, Chief Executive Officer. "We will seek to sublease the facility and will work closely with the landlord's organization in this effort."
"We are reallocating resources to the continued growth of our global business, rather than focusing on a single, site-specific and local project," said Linda McMahon, Chief Executive Officer. "We will build shareholder value by continuing to create WWE branded products and programming which we can distribute on a worldwide basis."
WWE issued its third fiscal quarter earnings release today and will host a conference call Wednesday, February 26, 2003, at 11:00 a.m. ET.
Mrs. McMahon lauded the effort of the restaurant's current management and employees. "We would like to personally thank each and every employee at the restaurant and at WWE for their hard work, commitment and passion for the business."
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