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Hot Dog on a Stick owner files Chapter 11

Posted: February 4, 2014 9:30 a.m.
Updated: February 4, 2014 9:30 a.m.
 

LOS ANGELES (AP) — The owner of Hot Dog on a Stick has filed for bankruptcy protection.

HDOS Enterprises says its total debt ranges from $1 million to $10 million and it estimates assets between $10 million and $50 million.

The Los Angeles Times reports (http://lat.ms/1ijOdof) the Chapter 11 filing was made Monday in U.S. Bankruptcy Court in Los Angeles.

Chief Executive Dan Smith said in a statement that like many mall-based businesses, HDOS signed expensive leases during the booming mid-2000s and that declining mall foot traffic in recent years has negatively impacted many locations.

Smith said the company will operate as usual while it reorganizes.

The employee-owned company known for its colorful staff uniforms was founded in Santa Monica in 1946 and has about 93 locations.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 

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