POSTED: 12:49 p.m. HST, Feb 04, 2014
LAST UPDATED: 04:17 a.m. HST, Feb 05, 2014
LOS ANGELES >> 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, including the Windward Mall, Queen Kaahumanu Center on Maui and the Prince Kuhio Plaza in Hilo.