Industry News | October 17, 2005
Krispy Kreme subsidiary files for bankruptcy
In connection with this petition, Krispy Kreme has agreed to provide funding to Freedom Rings during the restructuring process, just-food.com reported today.
"This is a difficult but necessary process for Freedom Rings and we believe it is in the best interest of the Krispy Kreme brand in the Philadelphia region in the long term," said Steve Cooper, chief executive officer of Krispy Kreme.
"We believe that this process allows us to continue to serve our customers in the Philadelphia region while simultaneously restructuring our local operations," he added.
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