Mall snack staple Hot Dog on a Stick has been purchased from bankruptcy by a portfolio company of Los Angeles private equity firm Levine Leichtman Capital Partners, the Los Angeles Times reported today. The firm's Global Franchise Group has bought HDOS Enterprises, parent company of the fast-food chain known for hot dogs and lemonade, for about $12.2 million in an auction from Bankruptcy Court. HDOS filed for chapter 11 bankruptcy in February after struggling with declining foot traffic in malls and expensive leases. Before filing for bankruptcy protection, Hot Dog on a Stick tried to slash its expenses and cut its workforce.
