Hot Dog on a Stick owner files Chapter 11 - San Diego, California News Station - KFMB Channel 8 - cbs8.com

Hot Dog on a Stick owner files Chapter 11

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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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Information from: Los Angeles Times, http://www.latimes.com

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 This material may not be published, broadcast, rewritten or redistributed.

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