WINSTON-SALEM N.C. Krispy Kreme Doughnuts Inc. said Monday it has submitted its Uniform Franchise Offering Circular, or UFOC, to those states in the U.S. where it is required, and that pending review, the company would be able to offer franchises in all 50 states. The operator or franchisor of about 395 Krispy Kreme doughnut-and-coffee locations said it was able to file a new UFOC when it became current last month with its audited financial statements after more than two years of delayed filings with federal regulators.
Since 2004, Krispy Kreme has struggled with depressed sales and profit as well as lawsuits alleging that the company's former management had "managed earnings" and inflated sales numbers. The lawsuits have been settled, pending a court's final approval, but the company still faces investigations from federal authorities surrounding its accounting.
Daryl Brewster, president and chief executive at the company said the filing of the chain's UFOC was "another step in the turnaround of Krispy Kreme."
