Owner Files Bankruptcy shuts Krispy Kremes

[moondancer627 0]

At 2 Pm Thursday the Krispie Kreame Crew were told to stop what they were doing and "everybody punch out".

Most of the doughnuts were thrown away. A rack with more than eight dozen doughnuts was wheeled outside to be left to whomever passed by for a freebie.

The local Francishe owner Rigel Corp filed bankruptcy on Weds. leaving dozen of employees without paychecks or work.

Before the first Tucson store you had to drive two hours to Tempe to get a Krispie Kreme Dougnut.

When the first Tucson store opened at 5 am on Dec. 03, 2002, 500 people stood in line for a taste of the decadent doughnut. The El Con store opened a few months later.

Sales were up at $21 a share and later to $105 a share.

The company opened 400 stores across the US and as far away as Australia.

On Friday shares were at $8.89.

11 locatations in AZ and New Mexico suddenly closed. Rigel's assests and debt to be in the $10 million to $50million range. A tally of the companies debt shows $8.6 million.

Calls on Friday to the companies lawyer in PHX were not returned.

Employees said they had no notice that the stores were going to close and were in shock when they were told to leave.

One employee said "I took 5 Doz donuts home with me".

Another employee said he does not know where he will find another job that pays $11.50 an hour.

Remember in Tucson we eat sunshine not donuts.

[Ban Hammer 14,291]

well that just sucks. what do the cops do now?

[moondancer627 0]

well that just sucks. what do the cops do now?

Dunkin Donuts is making a come back now!!! Saw a bunch of cop cars over there on Friday morning.

[Ban Hammer 14,291]

well that just sucks. what do the cops do now?

Dunkin Donuts is making a come back now!!! Saw a bunch of cop cars over there on Friday morning.

still ain't the same

[Cristy 4]

I never even had one. It was funny I was telling my step daughter just a couple of days before I wanted to try one. I hear they are not all they were cracked up to be.

[one...two...tree 2,762]

I never even had one. It was funny I was telling my step daughter just a couple of days before I wanted to try one. I hear they are not all they were cracked up to be.

I tasted my first Krispy Kreme donut back in '99 and it was delectable! It melts in your mouth. But they are so rich that after about 3, you're start feeling really heavy and sick. It was a fad that spread like wildfire until people got a wind of just how much fat and calories each KK donut had. It was bound to die down.

[iceyspots 0]

I never even had one. It was funny I was telling my step daughter just a couple of days before I wanted to try one. I hear they are not all they were cracked up to be.

I tasted my first Krispy Kreme donut back in '99 and it was delectable! It melts in your mouth. But they are so rich that after about 3, you're start feeling really heavy and sick. It was a fad that spread like wildfire until people got a wind of just how much fat and calories each KK donut had. It was bound to die down.

haha.. can get the nutrition info anywhere?

[giraffemd 0]

At 2 Pm Thursday the Krispie Kreame Crew were told to stop what they were doing and "everybody punch out".

Most of the doughnuts were thrown away. A rack with more than eight dozen doughnuts was wheeled outside to be left to whomever passed by for a freebie.

The local Francishe owner Rigel Corp filed bankruptcy on Weds. leaving dozen of employees without paychecks or work.

Before the first Tucson store you had to drive two hours to Tempe to get a Krispie Kreme Dougnut.

When the first Tucson store opened at 5 am on Dec. 03, 2002, 500 people stood in line for a taste of the decadent doughnut. The El Con store opened a few months later.

Sales were up at $21 a share and later to $105 a share.

The company opened 400 stores across the US and as far away as Australia.

On Friday shares were at $8.89.

11 locatations in AZ and New Mexico suddenly closed. Rigel's assests and debt to be in the $10 million to $50million range. A tally of the companies debt shows $8.6 million.

Calls on Friday to the companies lawyer in PHX were not returned.

Employees said they had no notice that the stores were going to close and were in shock when they were told to leave.

One employee said "I took 5 Doz donuts home with me".

Another employee said he does not know where he will find another job that pays $11.50 an hour.

Remember in Tucson we eat sunshine not donuts.

omg...if this ever happened here in MN there would be rioting in the streets

[one...two...tree 2,762]

I never even had one. It was funny I was telling my step daughter just a couple of days before I wanted to try one. I hear they are not all they were cracked up to be.

I tasted my first Krispy Kreme donut back in '99 and it was delectable! It melts in your mouth. But they are so rich that after about 3, you're start feeling really heavy and sick. It was a fad that spread like wildfire until people got a wind of just how much fat and calories each KK donut had. It was bound to die down.

haha.. can get the nutrition info anywhere?

Here's a cool site for fast nutritional facts for all major restaurants:

http://www.foodfacts.info/

One KK Donut : 13g of fat and 220 calories!!!

[Reba 2]

meh...grams of fat and number of calories are pretty much the same no matter what brand of donut you eat, but the taste experience is completely different from Dunkin Donuts to KK. KK donuts are just gross

KK bit off way more than they could chew and they've been suffering since they expanded into foreign markets. They didn't take a foothold as they expected to, and their sales did not keep up with their flagship stores here in the south. They started out like gangbusters, line ups out the door and down the road when they opened up the first store in the GTA, then sales started to fall. They just couldn't keep up with the cake type donuts at Timmy's and all the other dozens of donut shops in Canada. KK donuts, quite literally, left a bad taste in the mouth.

Plus, they cooked the books and once it was figured out it was too late to fix it.

I wouldn't be surprised to see them downsize to what they were before they went nuts, just a few stores in the south east.

[Fandango 1,440]

So wait...ALL KKs are gone????

KK opened a lil spot inside Harrod's....anytime I was there, I'd get a donut..kinda like a taste of home, yanno? ...the queue was always like 45 mins long and everytime I was there, there'd be a KK worker who would tell me that they'd give me a free donut for a smile

I would always buy more cos D loved them, but they never faired well after a monster shop in London & then the train home, lol.

[Tim and Bethanie 1]

I care nothing about how much fat or calories! Yummy.

[Hilarious Clinton 452]

I never even had one. It was funny I was telling my step daughter just a couple of days before I wanted to try one. I hear they are not all they were cracked up to be.

I tasted my first Krispy Kreme donut back in '99 and it was delectable! It melts in your mouth. But they are so rich that after about 3, you're start feeling really heavy and sick. It was a fad that spread like wildfire until people got a wind of just how much fat and calories each KK donut had. It was bound to die down.

haha.. can get the nutrition info anywhere?

Here's a cool site for fast nutritional facts for all major restaurants:

http://www.foodfacts.info/

One KK Donut : 13g of fat and 220 calories!!!

22 g Carbohydrates and 10 g Sugar

[Elizabethnhenry 0]

Now what will our new employees do to suck up their second week on the job!!???