Krispy Kreme Takes Bite Out Of Houston Franchises
Doughnut Shops To Close March 8
POSTED: Thursday, February 9, 2006
UPDATED: 6:23 pm CST February 9,
2006
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CHARLOTTE, N.C -- The morning routine for some doughnut lovers is about to change -- Krispy Kreme is pulling out of Texas.The company shed another franchisee as it tries to shed low-performing stores and rebuild its once-thriving snack business. This time it dropped Lone Star Doughnuts, which operated six stores in the Houston area. The agreement calls for Lone Star to stop operating the stores as Krispy Kreme outlets after March 8.Lone Star Doughnuts said the locations would become Jumbles Dough Factory and Coffee Bar. Doughnuts, coffee and kolaches will be sold at the new stores."We're going to continue to hire new folks. Nobody in our organization is leaving us and (we'll have the) same great employees, same great smiling faces," said Dan Brinton, COO of Lone Star Doughnuts. "I think our products will be very good and people will love them."The agreement requires Lone Star to withdraw a lawsuit it filed against the North Carolina-based company. Since November, Krispy Kreme has also cut off its ties to franchisees in Canada and Philadelphia. The U.S. Securities and Exchange Commission is investigating the company's repurchase of franchises and earnings warnings in May of 2004. Krispy Kreme also is the target of a federal criminal inquiry in New York.
Copyright 2006 by Click2Houston.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Copyright 2006 by Click2Houston.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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