"This is another step in the turnaround of Krispy Kreme,"company president and CEO Daryl Brewster declared in a statementissued Monday. Brewster explained that Krispy Kreme was unable tofile the franchise offering circular previously because the companyhad fallen behind in completing its financial statements. Now,however, "Krispy Kreme is able to file this document because it hasbecome current with its audited financial statements," Brewstersaid.

A uniform franchise offering circular is a disclosure documentthat contains detailed information about a franchise offering. Itis designed to assist potential franchisees in evaluating afranchise opportunity, part of a franchising disclosure and salesprocess that is regulated by the FTC and certain states.

For 70-year-old Krispy Kreme, the filing suggests that thecompany can begin to expand again, assuming other conditions areconducive to expansion. The company operates approximately 395Krispy Kreme stores, 296 of them so-called factory stores and 99satellites in 41 US states, Australia, Canada, Hong Kong,Indonesia, Japan, Kuwait, Mexico, the Philippines, the Republic ofSouth Korea and the United Kingdom. Factory stores, which contain adoughnut-making production line, typically support on-premisessales as well as sales to convenience stores, grocery stores, massmerchants and other food service and institutional accounts.Satellite stores consist primarily of the company's other shop andkiosk formats.