A former Kentucky Fried Chicken restaurant at 1100 West Market St. in Johnson City will soon become a Krispy Kreme Doughnuts location.
Crews from RTC General Contractors are currently tearing down the fast food location to make way for the doughnut shop, according to Bobby Paulsen, a superintendent with the Knoxville-based construction company.
The future shop, which will be about the same size as the KFC, will be 2,997 square feet. Paulsen said the $500,000 construction project should be completed in about 90 days.
Krispy Kreme has the store’s opening slated for November.
The Johnson City location will bring a Krispy Kreme stand-alone store back to the Tri-Cities for the first time since March 2010, when a Kingsport franchise on Center Street closed and reopened as Seaver’s Bakery. At the time, the Kingsport store owners said they chose not to re-sign a franchise deal with the Winston-Salem-based doughnut company.
Johnson City’s future store is one of four new locations Krispy Kreme plans to open across the U.S. before November. Other scheduled openings include Collingswood, N.J., Virginia Beach, Va., and Portsmouth, Va.
Krispy Kreme was founded in 1937 and now has more than 650 locations in 21 countries, with 3,900 employees. In the first quarter of its 2012 fiscal year, the doughnut company earned $104.6 million in revenues, and saw same store sales rise 5.8 percent from the same period one year ago, which was the tenth consecutive quarterly increase. Its net income for the period was $9.2 million, or 13 cents per share.
Krispy Kreme stock closed Monday at $9.17, down 13 cents or 1.4 percent.