Monday, October 17, 2005
The End is Nigh
Shares of Krispy Kreme Doughnuts (KKD) dropped nearly 30% to $3.42 in pre-market action on Instinet after the Winston-Salem, N.C., doughnut seller said its Freedom Rings LLC unit has filed for Chapter 11 bankruptcy protection. The company said Freedom Rings is a majority-owned unit and franchisee partner operating in the Philadelphia region. Krispy Kreme has agreed to provide funding for Freedom Rings during the restructuring process.
And with this news, there was heard a mighty wailing as the truth eventually penetrated Homer's humble cranium.