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Krispy Kreme Announces...

Krispy Kreme Announces Deferment of Event of Default

26 Jan 2005
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Krispy Kreme defers delivery of Q3 financial statements until March 2005.

25/01/05 - Krispy Kreme Doughnuts, Inc. has agreed to defer the date on which an event of default would occur by reason of its failure to deliver financial statements for the quarter ended October 31, 2004 until March 25, 2005. Krispy Kreme has also agreed to amend its Credit Facility to provide for limitation on the issuance, extension and renewal of letters of credit (other than renewals which do not increase the amounts thereof) without lender consent. The company has also agreed to a limitation on additional revolving credit or swing loan borrowings without lender consent and a limitation on the creation of guarantees in respect of debt incurred by the Company`s joint ventures (subject to certain pending and projected projects), whether or not such financial statements are delivered.
Krispy Kreme operates 435 stores worldwide, in the United States, Australia, the United Kingdom, Canada, Mexico, and the Republic of South Korea. They are a branded specialty retailer of premium quality doughnuts.
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