Both franchisees, St. Louis-based Sweet Traditions LLC, theoperator of 23 stores; and the 11-unit Great Circle Family FoodsLLC, of Los Angeles, have recently filed for bankruptcy. KrispyKreme executives would not predict during their second-quarterconference call how many stores would close.
"I think there will be some other franchisees that will closesome stores as well," adds Douglas Muir, Krispy Kreme's chieffinancial officer. The chain currently has 411 stores in operation,about 65% of which are in the US.
Most new-store growth by Krispy Kreme is currently overseas. Thechain, which has 11 stores in foreign countries, had asecond-quarter increase of 13 international units, while on thedomestic front there was a net drop of six locations.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
