"Terminator" star Arnold Schwarzenegger has a message for the movie-themed restaurant chain Planet Hollywood that he helped found -- "Hasta la vista, baby."
The bodybuilder-turned-actor said in a statement issued by his publicist on Tuesday that he is severing his relationship with Planet Hollywood now that his five-year contract with the Orlando, Florida, company has expired.
The announcement comes four days after Planet Hollywood emerged from Chapter 11 bankruptcy reorganization with plans to bolster its remaining profitable restaurants rather than open new outlets.
The company's president and CEO, Robert Earl, blamed the chain's financial woes on rapid overexpansion in the past. He also said the company would announce a new lineup of celebrity affiliations with the restaurants in the next three to four weeks.
Schwarzenegger was part of an original group of stars, including Sylvester Stallone, Bruce Willis, Demi Moore and Whoopi Goldberg, who were investors in and promoters of Planet Hollywood.