Krispy Kreme Doughnuts, Inc. (NYSE:KKD) today announced that, in accordance with Federal Trade Commission (FTC) rules and regulations and various state franchise laws, the Company has completed the preparation of its Uniform Franchise Offering Circular (UFOC) and submitted the UFOC for review by those states in which registration is required. Once the review process is complete and the UFOC is registered, Krispy Kreme expects to be able to offer franchises in all 50 states.
“Krispy Kreme is able to file this document because it has become current with its audited financial statements,” said Daryl Brewster, President and Chief Executive Officer of Krispy Kreme. “This is another step in the turnaround of Krispy Kreme.”
A UFOC is a disclosure document that contains detailed information about a franchise offering. It is designed to assist potential franchisees in the evaluation of a franchise opportunity. The disclosure and sales process is regulated by the FTC and certain states.
Krispy Kreme was founded in 1937 in Winston-Salem, North Carolina. There are currently approximately 296 Krispy Kreme stores and 99 satellites operating system-wide in 41 U.S. states, Australia, Canada, Hong Kong, Indonesia, Japan, Kuwait, Mexico, the Philippines, the Republic of South Korea and the United Kingdom.