Krispy Kreme looks toward new bank group for new loan, gets third extension to provide financials

By Sara Rosenberg

New York, March 28 - Krispy Kreme Doughnuts Inc. is in negotiations with a new lending group about getting a new credit facility to repay the existing facility in full and for general corporate purposes, according to a company news release.

Furthermore, the company has gotten an extension from its current bank group until April 11 to deliver financial statements for the quarter ended Oct. 31, 2004, the release added.

Originally, the company had until Jan. 14 to deliver the financial statements but was unable to meet the deadline due to necessary restatements for the fiscal year ended Feb. 1, 2004 and the last three quarters of that fiscal year regarding pre-tax income.

The company then received an extension until Jan. 24 to deliver the statements.

And then, the company received another extension, which gave it until March 25 to deliver the statements.

Krispy Kreme is a Winston-Salem, N.C.-based branded specialty retailer of doughnuts.

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