“Hot Dog King” Files Bankruptcy

Self-proclaimed “hot dog king” Louie Di Raimondo has filed for Chapter 11 bankruptcy both personal and for his Miami-based retail business, All American Hot Dog Carts.

Raimondo was featured on Joan Rivers “How’d You Get So Rich?” TV show in May 2010 and has filed bankruptcy petitions Tuesday in Miami. Di Raimondo lists $5.5 million in debt and $1.1 million in assets, with between 100 and 200 creditors.

His business declared $1.97 million in debt and $200,599 in assets, with fewer than 49 creditors.

Di Raimondo’s rags-to-riches business story has been told and retold in newspaper articles and books, including “I’m On A Roll: America’s Celebrity Hot Dog King, Louie Di Raimondo,” which he co-authored.

According to the bankruptcy petition, Di Raimondo’s owes $1.7 million to Chase Home Finance on a home in Miami Beach, along with a couple of other mortgages in Miami.

He also declared ownership of a 2008 Ford Ranger and a 28-foot Sea Ray boat. His personal bankruptcy petition says he has a monthly income of $18,500 and it includes 27 pages listing credit card account debts.

Wait…… a 2008 Ford Ranger??? did you see the video of his claim to fame on his web site??

All I can say is business is awesome at the Bombdiggity! And we don’t own any of the “Kings”Carts, just honest hot dog sales here folks.

Thanks to the South Florida Business Journal for the info.

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