Sticky situation for Krispy Kreme Doughnuts
Krispy Kreme Doughnuts, the company immortalised in US television series 'Sex and the City', is under an informal, non-public probe into its accounting methods.
The North Carolina-based doughnut producer said that the investigation concerns its ‘franchise reaquisitions’ and ‘previously announced reduction in earnings guidance’.
Scott Livengood, chairman, president and CEO, said: ‘Krispy Kreme has no higher priority than the confidence of our shareholders, customers and employees.
‘While we are confident in our practices, we understand and respect the SEC’s responsibilities and will continue to co-operate fully throughout this process.
Krispy Kreme launched in the UK last year, with much fanfare, in Harrods.