make WWAY your homepage  Become a fan on facebook  Follow us on twitter  Receive RSS Newsfeeds  MEMBERS: Register | Login

Krispy Kreme franchisee files for bankruptcy

READ MORE:

WASHINGTON (Dow Jones/AP) -- More bad news for struggling doughnut maker Krispy Kreme.

A company that once was the largest franchisee of Krispy Kreme has filed for Chapter 11 protection.

Great Circle Family Foods filed the papers in U.S. Bankruptcy Court in Santa Ana, California, yesterday. The doughnut shop operation says General Electric Capital Business Asset Funding Corporation is its largest secured creditor, with a $7.5 million claim.

Great Circle says it continues to have an unmanageable amount of debt, despite selling a number of ships and significantly cutting debt.

The company and its units own and operate nine Krispy Kreme stores and manage three others, all in Southern California.

Krispy Kreme is based in Winston-Salem.

Disclaimer: Comments posted on this, or any story are opinions of those people posting them, and not the views or opinions of WWAY NewsChannel 3, its management or employees. You can view our comment policy here.

»

Reply

The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

More information about formatting options

To prevent automated spam submissions leave this field empty.
CAPTCHA
Please re-enter the code shown in the image below.