Krispy Kreme Franchisee Files For Chapter 11

Two newspapers report that a Missouri-based Krispy Kreme franchise operator has filed for Chapter 11 bankruptcy.

Sweet Traditions LLC operates 15 locations in the Chicago area. The Chicago Tribune and St. Louis Post Dispatch reported that the firm filed for bankruptcy protection in U.S. Bankruptcy Court in St. Louis.

The Missouri-based company says it could close half its stores and cut 110 to 140 of its 600 jobs.