Despite the fact that over 5,000 runners showed up this weekend for the Krispy Kreme Challenge, we have word that Krispy Kreme is in danger of closing shop.
A manager at the Peace Street location when asked if she knew about the closing responded “Not that I’ve heard.”
Various reports are stating that the Winston Salem based company could not survive 2009 and it’s stocks seem to be a bit lower today and have been on a six month slide. Let’s hope this isn’t true as it would be sad news for many foodies, kiddies and workers across the country.
More closings in the Raleigh area are rumored but not confirmed. New Raleigh will keep you up to date on the others as soon as we have more information. Krispy Kreme has faced financial troubles before. In 2004 and 2005 Krispy Kreme was investigated by the SEC and found guilty of massive accounting fraud designed to inflate the stock price.
The company has been giving away a lot of doughnuts recently, assumingly to attempt to drum up more business. Maybe the mound of empty boxes at Saturday’s race may have been foreshadowing.