Retailers, consumers and prices
Time to make the donuts, file for bankruptcy
Dunkin’ Donuts franchise operator Kainos Partners Holding Company LLC became one of the latest companies to file for bankruptcy on Monday.
The company cited customers under extreme financial stress, as well as higher food costs, in its filing. It follows two other Dunkin’ Donuts franchisees who filed for bankruptcy in June.
Another issue at Kainos? The company said it found out that its CFO had engaged in $420,000 worth of financial transactions involving company assets for his personal use. The executive was fired in February.
Seems like times have changed a bit for the company. Kainos Partners received Dunkin Brands Rising Star of the year award for 2006 and Developer of the Year for 2007.