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Krispy Kreme Update

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Krispy Kreme Update

As a follow-up to older postings by several posters, be advised that all three Krispy Kreme stores in Eastern Massachusetts, (which may reflect all of their stores in the State), are now closed. It was accomplished very quietly and the only comment issued was that sales did not meet expectations. The corporation's accountng is a total mess and they are under investigation by several regulatory bodies. They have missed several deadlines to refile corrected financial statements and it is expected that they will also miss the next deadline. Several executives resigned under duress earlier this year and the company and these executives are under investigation. Half of its outstanding stock is held by short sellers in anticipation that its price will decline even further from its current very low levels.

Meanwhile, Dunkin Donuts is being pursued by several companies, (domestic and European), as an acquisition. Perhaps, they see an opportunity if Krispy Creme enters bankruptcy.

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1. Re: Krispy Kreme Update

I read in the Globe today that the one in Dedham is still open?

Not that it matters to me much. They can't hold a candle to Dunkins, or to the Donut place at the Quincy Center Red Line Station (My personal favorite)

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Dedham
Dedham
Massachusetts
Boston, MA
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2. Re: Krispy Kreme Update

I work next to the one in Medford. I predicted its closing, along with the Saugus location, months ago. There is/was never anybody in the places. The fad died quickly.

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Medford
Medford
Massachusetts
Saugus
Saugus
Massachusetts
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3. Re: Krispy Kreme Update

According to today's Boston Herald, the Dedham and Saugus locations are closed, but Medford is still running. The reasons run from stiff competition to the ongoing SEC investigations.

It's really too bad. The Saugus location used to be the home of Russo's Chocolate and ice cream. It was THE place to go for candy during the holidays and they made a mean homemade ice cream. Then you could drive down the Lynnfells Parkway and see some of the most extravagant light displays imaginable. <sigh>

While I know there are just as many fans of Dunkin Donuts as there are detractors, but one thing you can't deny is that they've got a lock on the business in these parts.

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Dedham
Dedham
Massachusetts
Saugus
Saugus
Massachusetts
Medford
Medford
Massachusetts
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4. Re: Krispy Kreme Update

I believe that I stand corrected on the Medford location. The third location that closed was in Newington, CT. Due to the financial circumstances and the competition from Dunkin Donuts, I do not hold out much hope for the Medford location, most of New England and perhaps the company as a whole.

I agree with the comments about Russo's.

On that same subject, I know that it may be out of the way for most persons, but there is a great chocolate shop in Marblehead called Stowaway Sweets which has been in business since the early part of the 20th century and makes homemade, hand-dipped chocloates on site. I believe that they can be ordered for delivery by mail or telephone but it is best to visit and choose individual pieces to make up a customized box or two. They ship to locations all over the U.S.A. It is a single shop operation which I prefer to a franchise operation. They offer free samples on site. I do not know if they have a Website. I have been purchasing chocolates from them for a long time. Absolutely decadent and a great treat for for the holidays.

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Medford
Medford
Massachusetts
Marblehead
Marblehead
Massachusetts
Boston, MA
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5. Re: Krispy Kreme Update

another correction: It was the MEDFORD and SAUGUS KKs that closed. Dedham is the lone remaining KK in MA for now. The Boston Herald had it right yesterday, and Channel 5 ran a story also confirming that Medford and Saugus closed.......

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Medford
Medford
Massachusetts
Dedham
Dedham
Massachusetts
Saugus
Saugus
Massachusetts
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6. Re: Krispy Kreme Update

Thanks for the correction re:KK. Can't say I was bowled over by them, but they were a novelty. Having never been in a shop, did they have any sort of coffee service? I can imagine that a person would go there if they had good coffee, so as not to have to make 2 stops.

I absolutely adore Stowaway Sweets! Their melt-aways are to die for! And if you're heading to Marblehead, check out the new location for Shubie's - it's wonderful!

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Marblehead
Marblehead
Massachusetts
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7. Re: Krispy Kreme Update

Thanks for the correction. It is Dedham that remains open but I doubt for the long term. The tenor of my remarks was really to emphasize the decline of Krispy Kreme, by the closing of their stores as compared to the euphoria that esisted when they opened in New England.

Krispy had a mediocre coffee product and has been trying for year to emulate Dunkin Donunts which is better regardless of whether they may or may not compare favorably to Starbucks. Earlier this year, Krispy bought out a Chicago roasting operation that is supposed to make very good coffee, is testing its new product and has been gradulay and quietly trying to introduce that product through it s stores. To date, it it too early to dertmine of they can compete with Dunkin Donuts in that area. Meanwhile, Dunkin Donuts is opening stores at an accelerated pace in order to ward off any competitors. They dominate in the Northeast and are expanding nationwide. That expansion and their earnings are what is attracting suitors.

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Dedham
Dedham
Massachusetts
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8. Re: Krispy Kreme Update

BeansandCod - I am gratified to have a "compadre" with regard to Stowaway Sweets. Yes, I must agree with you that the "melt aways" are exquisite. I shall check out Shubies. Its original store was in existence for at least 45 years.

IPM
Needham
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9. Re: Krispy Kreme Update

You sure about this? There is a Krispy Kreme on route 1 in Dedham that still seems to be open. The Shaw's grocery opposite side of the highway has a Krispy Kreme stand - not as good

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Dedham
Dedham
Massachusetts
Boston, MA
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10. Re: Krispy Kreme Update

I've NEVER seen a remotely dead Dunkin Donuts. Over a dozen DD locations in Medford alone.

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Medford
Medford
Massachusetts