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Krispy Kreme gets second extension for delivery of financial statements
By Sara Rosenberg
New York, Jan. 25 - Krispy Kreme Doughnuts Inc. got another extension from lenders under its credit facility for the delivery of financial statements for the quarter ended Oct. 31, 2004, this time until March 25, according to a company news release.
Furthermore, the company amended its credit facility to provide for a limitation on the issuance, extension and renewal of letters of credit without lender consent, a limitation on additional revolving credit facility or swing-loan borrowings without lender consent and a limitation on the creation of guarantees regarding debt incurred by the company's joint ventures.
Originally, the company had until Jan. 14 to deliver the financial statements, but it 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.
The company then received an extension until Jan. 24 to deliver the statements.
Krispy Kreme is a Winston-Salem, N.C., branded specialty retailer of doughnuts.
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