Krispy Kreme Doughnuts, Inc. announced today that its Hong Kong franchisee has informed the Company that it plans to enter into receivership. The franchisee has been in operation in Hong Kong for approximately two years and operates nine Krispy Kreme locations.
Although the Company is disappointed by this development the Company’s international growth strategy has not changed. Recently, Krispy Kreme has signed franchise development agreements for the Republic of Turkey and Malaysia, as well as for the metropolitan areas of Shanghai, Beijing and Tianjin, China.