In a large nonstick skillet, saute mushrooms in butter and oil until tender. Add the garlic; cook 1 minute more. Stir in the wine or chicken broth, Worcestershire sauce and seasonings. Bring to a boil. Reduce heat; simmer, uncovered, for 7-8 minutes or until liquid has evaporated.
Add spinach; cook and stir until wilted. Stir in water chestnuts; heat through.