News-Record.com

Looks like the speculators were right about Krispy Kreme's ability to get major financing. The company needs millions to avoid bankruptcy and repair the damage done by allegations of improper accounting, regulatory and criminal investigations, shareholder lawsuits and falling share prices.

Krispy Kreme said this morning that it has secured $225 million in financing from a group led by Credit Suisse First Boston.

In addition to being good news for local employees and investors, the news backs up suggestions made last month by Peter Hall, the chairman of Australian mutual fund giant Hunter Hall International, which now owns about 7 percent of Krispy Kreme stock.

In an exclusive interview, Hall told me that Krispy Kreme has great potential as a brand and that his group would be willing to assist in any way it could to get the struggling company back on its feet.

He said Hunter Hall would buy more stock to finance the company if Krispy Kreme issued it, but that conventional lenders would probably see the potential and grant financing to the company.

"There's a good business in there somewhere but it will probably take a few years for the business to be restructured -- I think it could be a great global brand. The consciousness and awareness of the brand is still not great outside the United States," Hall said from his London office.