There will always be a market for moist pies, but there is a cautionary tale of overexpansion and having to pull out too soon. The story of Krispy Kreme is one such example. Riding a crest of enthusiasm, the company bought out and closed the world's first dinner theater (Candlelight Dinner Playhouse) - where patrons could simultaneously experience mediocre musical theater and mediocre food.
It's a sad story of financial detumescence that we would not like to see happen to an emerging market for fine moist pies.
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Krispy Kreme: Coulda, Woulda, Shoulda
by Amy Swanson
in Branding, Entrepreneur Resources
I haven’t had a Krispy Kreme doughnut since around 2005. A few weeks ago, on National Coffee Day, I saw an article that gave a run-down of all the company’s promotions going on…and the feeling of neglect slowly crept back.
Illinois currently only has only 4 Krispy Kreme locations; whereas, in its heyday, I knew of a several in Chicago and its suburbs that I could visit. Those sweet, sugary, hot-from-the-fryer doughnuts are now just a memory. With that being said, I apologize for seeming a bit harsh on this company later on in this post. I guess you could say it’s a case of scorned lover syndrome. They left without saying goodbye and quite frankly, I’m glad they did (sniffle, sniffle, sniffle).
For all inquiring minds out there that have also wondered where Krispy Kreme went, you are not alone. There are several reasons why they are where they are, and because I feel rejected by their departure I thought I’d share some “coulda, woulda, shoulda” tips with you all. Hopefully, it will help me get over them once and for all.
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http://www.qualitylogoproducts.com/b...oulda-shoulda/
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Krispy Kreme cools further
Illinois franchisee files for Chapter 11
September 05, 2007 By Robert Manor, Tribune staff reporter
As Krispy Kreme Doughnuts spread across the country, hoopla followed. But the chain has struggled continually in the past few years and on Tuesday the Krispy Kreme franchisee for Illinois filed for Chapter 11 bankruptcy and said it plans to close about half its 15 Chicago-area stores.
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Krispy Kreme made a splash when it opened its first Chicago-area store in 1998 at the site of the old Candlelight Dinner Playhouse in Summit. The chain developed a cult following for its warm, glazed doughnuts and began to spread aggressively around the country in the late 1990s.
Sales peaked in 2005 at $708 million, but fell steadily to $461 million last year, a drop of 35 percent. The company has not shown a profit since 2004.
Meanwhile, the stock, which in 2002 traded above $40 a share for a time, has been languishing. On Tuesday, it closed at $6.45, down 19 cents in a generally rising market.
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http://articles.chicagotribune.com/2...go-area-stores
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Heralded in the theater history books as "America's First Dinner Theater," it opened July 7, 1961 in what was originally a tavern space owned by Bill Altier, whose college grad grandson Bill Pullinsi was eager to open a unique dinner space.
As for how the Candlelight Dinner Playhouse can be considered the "first dinner theater in America" even though the Drury Lane stage spaces were already in operation?
I'm told it's because at the Candlelight, the patrons actually watched the performance from the dining table seating where they also enjoyed their dinner service.
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Candlelight was torn down in 1998 to make room for a now-vacant Krispy Kreme donut shop.
http://www.nwitimes.com/entertainmen...3828764cf.html
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