In an apparent belt-tightening exercise, Krispy Kreme has sold its private jet to Pharmaceutical Product Development, Inc. Although the reasons for the sale were not stated -- and the sale was disclosed in the purchaser's (rather than Krispy Kreme's) regulatory documents -- Krispy Kreme's struggling financial picture seems to a possible basis for the sale. Who knows though - maybe they didn't like the gas mileage or maybe corporate jets are just so 20th century. Whatever the reason, Krispy Kreme received $30.5 million for Dassault Falcon 900EX.
Posted by franchiselawblog at February 8, 2005 02:42 PM