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Krispy Kreme franchisee gets OK for reorganization
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Published: July 22, 2009
LOS ANGELES - Great Circle Family Foods LLC, a franchisee of Krispy Kreme Doughnut Inc. in Southern California, said yesterday that a U.S. Bankruptcy Court has approved its reorganization plan.
The reorganization allows the group's 11 stores in Southern California to remain open. The stores have a combined 240 employees.
The franchisee was founded in 1998 and had as many as 31 stores and 1,500 employees in 2004. Great Circle filed for bankruptcy in 2007.
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