All in all, the donut brand has generated $1.52 billion in net revenue this year.
Krispy Kreme had already shuttered eight shops earlier this year, citing those locations' inability to remain profitable.
“We closed eight shops during the third quarter.
Krispy Kreme Doughnuts / Facebook
We also identified a further 12 shops, which we will close in the coming months.
We believe these 20 locations represent the overwhelming majority of potential closures.”
Krispy Kreme’s current business model is all about the “hub-and-spoke” format.
Most of the Krispy Kreme shops being closed are hubs that did not benefit from nearby spokes.
Still, Krispy Kreme is optimistic for the future, especially its new partnership with McDonald’s.
“Obviously, this is a small test to partner with a global company.
