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Krispy Kreme Hong Kong franchisee enters receivership
October 27, 2008
WINSTON-SALEM, N.C. — Krispy Kreme Doughnuts' Hong Kong franchisee plans to enter into receivership, a form of bankruptcy, the company announced. The franchisee has been in operation in Hong Kong for approximately two years and operates nine Krispy Kreme locations.
The company said that although it is disappointed by this development, the company's international growth strategy has not changed, according to a news release. Recently, Krispy Kreme has signed franchise development agreements for the Republic of Turkey and Malaysia, as well as for the metropolitan areas of Shanghai, Beijing and Tianjin, China.
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