Consumer favorite Krispy Kreme Doughnuts Inc. said that the ongoing probe into its accounting practices by the Securities and Exchange Commission has become a formal investigation.

In July, the commission announced that it was conducting an informal probe into the 380-unit operator and franchisor, focusing on accounting methods used in several repurchases of franchised territories and a sudden profit warning that it issued in May, citing the trend of low-carb diets.

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