Bitcoin sets a new all-time high above $6,000 >>> READ MORE

Hot Dog on a Stick Parent Files for Bankruptcy

The company will restructure lease agreements


Hot Dog on a Stick parent HDOS Enterprises filed for bankruptcy in order to restructure lease agreements.

The company has filed a bankruptcy petition in U.S. Bankruptcy Court for the Central District of California in Los Angeles. The corn dog chain’s restaurants are mostly located in malls and the declining mall foot traffic has affected Hot Dog on a Stick sales. Hot Dog on a Stick is looking to restructure lease agreements in a manner that’s more profitable to the company.

“We’ve been pursuing new leases in all locations, and the Chapter 11 filing will allow us to do so in a more effective manner,” said HDOS CEO Dan Smith in a statement. “We want to be in malls where the relationship is positive and the partnership is mutually beneficial.”

Hot Dog on a Stick has tried to change things up over recent years by opening drive thru locations and offering breakfast. However, the chain has struggled despite its corporate workforce reduction over the last few years.

Article printed from InvestorPlace Media,

©2017 InvestorPlace Media, LLC