Walter P. Scharfe was the owner of The Hollywood Brown Derby restaurant. The Derby nearly closed in 1974, but instead was bought and renovated by Walter P. Scharfe and his wife Elizabeth Khittl-Scharfe. In 1980, A Hollywood Brown Derby Hotel was designed and planned. A full property site acquisition thereafter prevented the company from completing the hotel project in Hollywood. After the successful years in Hollywood the famed landmark restaurant closed with literally no warning in 1985 for earthquake safety reasons. It took bold and costly strokes, closing all operating Brown Derby's to prepare the company for a new beginning. It was imperative to create a unified marketing profile, keeping the past alive and be open-minded for the present and the future. The Derby was moved to the north-west corner of Hollywood and Vine. In addition, an agreement was made with Walt Disney Enterprises to place a Brown Derby Restaurant in Disney World in Florida where it still stands today.