Krispy Kreme Bids Adieu To Iceland

After barely three years in operation, the Krispy Kreme will be leaving Iceland at last, Vísir reports.

There are three main locations—Kringlan, Skeifan and Smáralind. The first two locations shuttered their doors on July 1, but the Smáralind location will remain open until October 1. The reason for the decision is high production costs combined with a relatively small market for the donuts.

A great team

Viðar Brink, the director of operations for Krispy Kreme, told reporters that the decision weighed heavily upon management.

“The vast majority [of our staff] have been with us since we opened in November 2016 and performed fantastically,” he told reporters. “They deserve high praise for their work,” adding that he had seldom encountered such a hard-working team in his career.

The donut index

Krispy Kreme announced their arrival to Iceland in July 2016. At that time, Dunkin Donuts had been in operation in Iceland since the previous August.

However, the market for donuts was apparently overestimated. While both chains enjoyed an initial burst of success, Dunkin Donuts was the first to buckle under, closing up shop earlier this year. Like Kripsy Kreme today, Dunkin Donuts also cited high operational costs and little demand for the reasons behind their departure.

No need to worry, though; Icelanders love pastries, and there is still a wide variety of (arguably better) old timey baked goods that you can still buy at countless locations around the country.