Owner Of Hot Dog On A Stick Files For Bankruptcy Protection
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 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.
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