Krispy Kreme Franchisee Triumphs In Liquidation Row

Law360, New York (April 21, 2006, 12:00 AM EDT) -- As Krispy Kreme Doughnut Co. continues to struggle with a slew of financial and legal problems, a federal bankruptcy judge has confirmed the plan of liquidation for its bankrupt subsidiary, Freedom Rings LLC.

The news came on Thursday as U.S. Bankruptcy Judge Christopher Sontchi approved the first amended plan of liquidation for the wholly owned franchisee in U.S. Bankruptcy Court in Delaware.

Freedom Rings, which operated six out of the approximately 360 Krispy Kreme stores and 50 satellites worldwide, has been parked in bankruptcy protection since...
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