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Krispy Kreme gets extension from bank group to deliver financial statements
By Sara Rosenberg
New York, Jan. 18 - Krispy Kreme Doughnuts Inc.'s lenders under its $150 million credit facility have given the company until Jan. 24 to deliver financial statements for the quarter ended Oct. 31 before considering the late filing an event of default, according to an 8-K filed with the Securities and Exchange Commission.
Furthermore, the company has retained Kroll Zolfo Cooper LLC as financial adviser and interim management consultant.
Originally, the company had until Jan. 14 to deliver the financial statements but was unable to meet the deadline because of necessary restatements for the fiscal year ended Feb. 1, 2004 and the last three quarters of that fiscal year regarding pre-tax income.
As was previously announced, Krispy Kreme is currently unable to draw on its credit facility.
Krispy Kreme is a Winston-Salem, N.C., branded specialty retailer of doughnuts.
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