WINSTON-SALEM, N.C. (AFX) - Krispy Kreme Doughnuts Inc. said Monday its lenders agreed to extend the filing deadline for the company's fiscal 2006 annual report by three months to Oct. 31.
Earlier this year, Krispy Kreme said it would delay filing its annual report for the fiscal year ended Jan. 29 because it used accounting resources to prepare its overdue fiscal 2005 annual report. The company filed that in late April, meeting a deadline and averting a delisting from the New York Stock Exchange.
Once a stock market darling, Krispy Kreme has been restructuring since 2004 when it started seeing lower sales initially blamed on the low-carbohydrate diet fad. After that, the company closed stores and fired its chief executive. In March, Krispy Kreme brought in former Kraft Foods executive Daryl Brewster to turnaround the franchise.
In mid-June, Krispy Kreme said it expects to report a loss for the fiscal first quarter.
The stock closed Monday up 22 cents, or 2.7 percent, to $8.47. In the past year, it has traded between $3.91 and $12.11.
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