Krispy Kreme was not able to file its Form 10-K for the fiscal year ended January 30, 2005 by the regulatory deadline.
The company did however, provide a financial update in a press release.
Krispy Kreme has filed a Notification of Late Filing on Form 12b-25 stating that its annual report on Form 10-K for fiscal 2005 could not be filed timely due to ongoing analysis related to the proper application of generally accepted accounting principles to certain transactions which occurred in the fiscal year ended February 1, 2004 (“fiscal 2004”) and earlier years as well as in fiscal 2005.
Until such analyses are complete, the Company can’t finalize its financial statements for fiscal 2005. The Company is also filing a Current Report on Form 8-K reporting that, because of pending restatements, the Audit Committee and management have concluded that the Company’s financial statements for fiscal 2001, 2002 and 2003 and the first three quarters of fiscal 2005, in addition to the financial statements for fiscal 2004, should no longer be relied upon.
In a Current Report on Form 8-K dated December 28, 2004, the Company disclosed that its Board of Directors had concluded that the Company’s previously issued financial statements for fiscal 2004 should be restated to correct certain errors contained therein.
The Company further disclosed that the Company was conducting analyses of additional matters which could give rise to additional restatement adjustments to previously issued financial statements, and that certain investigations were ongoing which also could give rise to additional restatement adjustments.
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