Krispy Kreme is looking to go public once again as it announced Tuesday that it is filing for an initial public offering that would take it back to the New York Stock Exchange after a five-year hiatus.

The donut chain made its debut on the stock market in 2000 but filed for Chapter 11 bankruptcy after an investigation into its accounting practices, which sent its sales into a tailspin at some of its franchisees, CNBC reported.

At the time of the Securities and Exchange investigation, Krispy Kreme’s stock declined to near $1 a share, rebounding over the next decade. However, the chain was not able to recover or compete with its rivals, Bloomberg said.

The company was then bought out by a private owner, JAB Holding Co., in a $1.35 billion deal in 2016, when it emerged from bankruptcy as the firm looked to build its portfolio of coffee and restaurant investments, according to CNBC.

JAB Holdings also manages Pret a Manger and JDE Peet’s, which owns brands such as Peet’s coffee chain, as well as Senseo, Tassimo, Stumptown, and Intelligentsia.

The number of shares and price range has not been yet been determined, the company said in a statement. The IPO is expected to take place after the SEC reviews the offer.

Krispy Kreme has fallen into favor with Americans as it offered a series of monthly promotions, with its most well-known this year being in support of the COVID vaccine. For anyone who receives their shot, Krispy Kreme is giving them a free donut for the rest of the year with proof of their vaccination at a store in the U.S.

Krispy Kreme has been doling out donuts since 1937. The chain has nearly 1,400 locations in 33 countries.

Krispy Kreme
Krispy Kreme's famous glazed doughnuts are pictured on May 17, 2004 in Miami. Joe Raedle/Getty Images
RELATED STORIES
Coronavirus