Krispy Kreme Closes Australian Outlets

AgraNet:

Krispy Kreme Doughnuts Inc‘s Australian franchisee has shut 21 of its 51 stores in the country, taking the total number of such closures to 24. It had been hoped that all stores would remain open during the restructuring of the company under administration (FOODNEWS 5 November).

Krispy Kreme Australia appointed voluntary administrators in October, in the Australian version of a US Chapter 11 bankruptcy filing, after directors concluded that due to a number of underperforming stores the company was at risk of not meeting its financial obligations.