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Krispy Kreme's Hong Kong franchisee to enter receivership

WINSTON-SALEM N.C. Krispy Kreme Doughnuts Inc. said Monday that its nine-unit franchisee in Hong Kong would enter into receivership, which is a type of bankruptcy.

Krispy Kreme did not say whether the franchisee, which has been in operation for two years, would liquidate or reorganize. However, the Reuters news service reported that the franchisee had retained a financial adviser to help it find liquidators, and that it planned to close five of its stores

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