Planet Hollywood filed for bankruptcy reorganization. Rainforest Cafe was acquired by seafood chain Landry's. And Dave & Buster's was taken private in 2006. The stock will trade at a reasonable price-to-sales multiple, but the lack of consistent profitability will scare away typical restaurant investors that prefer profitable expansion. It's their loss. Investors that can appreciate a public Dave & Buster's ability to use equity to pay down its debt and expand into smaller markets with smaller restaurants will be able to get an attractive price on a growing company. All of this summer's restaurant IPOs -- Chuy's ( CHUY ), Del Frisco's ( DFRG ), and Outback Steakhouse parent Bloomin' Brands ( BLMN ) -- are currently trading well above their debut prices. This bodes well for Dave & Buster's on Friday.