Krispy Kreme Franchise: Last Montana Franchise Closes

(FranchisePick.Com)  Looks like Montana’s gonna have to keep runnin’ on Dunkin.  Montana’s only Krispy Kreme doughnuts location is closing, according to franchise owner Lincoln Spoor. 

Missoulian: 

“Krispy Kreme wholesale agents in Billings will also lose doughnut delivery service, but Spoor said the company is working to restore that service within the year.
The Billings store, which opened in 2004, had 29 employees. Krispy Kreme is offering to help the employees transfer to different locations within the company if they are willing to relocate.
A Krispy Kreme store in Missoula closed early in February 2007, after about a 15-month run.”

KULR reports: 

“Store manager, Mike Fortier, said the Billings branch of the chain has been open for nearly 4 years. Molly Spore the director of operations said the Billings store of the chain has not been profitable. She said it is the last Krispy Kreme in Montana and she is sad to see it go.” 

CEO Morgan to receive $650,000 salary, plus bonuses

Not everyone’s suffering at Krispy Kreme.  Krispy Kreme Doughnuts Inc. said yesterday in a regulatory filing that James Morgan, its chairman, chief executive and president, will be paid an annual salary of $650,000….

Morgan is eligible for an annual bonus based on performance goals set by the committee, with a target equal to 70 percent of his salary, or about $455,000. However, the company said that Morgan would not receive a bonus for the fiscal year that ended Feb. 3.

Morgan has been granted options to buy 500,000 shares at an exercise price of $2.89 a share, the closing price of the stock Feb. 27.

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