Krispy Kreme In Hong Kong Faces Liquidation

Krispy Kreme Doughnuts, Inc. announced that its Hong Kong franchise plans to enter receivership and will be put formally in liquidation when creditors meet on 12 November as reported by FoodBusinessNews.net.
The Hong Kong franchise has been in operation for about two years and operates nine Krispy Kreme locations. The company closed five locations on 26 October. Two of the stores located at the city’s airport are expected to remain open as long as possible for the benefit of creditors.
“Although the company is disappointed by this development, the company’s international growth strategy has not changed,” Krispy Kreme said in a statement.
The company recently signed franchise development agreements for the Republic of Turkey and Malaysia, as well as for the metropolitan areas of Shanghai, Beijing and Tianjin, China.