Initial Statement of Beneficial Ownership

FORM 3	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES	OMB APPROVAL OMB Number: 3235-0104 Expires: January 31, 2008 Estimated average burden hours per response... 0.5
	Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person ^*
Lineberger Steven A.
2. Date of Event Requiring Statement (MM/DD/YYYY) 8/31/2007
3. Issuer Name and Ticker or Trading Symbol
KRISPY KREME DOUGHNUTS INC [KKD]

(Last)        (First)        (Middle)
370 KNOLLWOOD STREET, SUITE 500
4. Relationship of Reporting Person(s) to Issuer (Check all applicable)
_____ Director                            _____ 10% Owner
___ X ___ Officer (give title below)          _____ Other (specify below)
Senior Vice President /

(Street)
WINSTON-SALEM, NC 27103

(City)              (State)              (Zip) 5. If Amendment, Date Original Filed (MM/DD/YYYY)

6. Individual or Joint/Group Filing (Check Applicable Line)
_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security
(Instr. 4) 2. Amount of Securities Beneficially Owned
(Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5) 4. Nature of Indirect Beneficial Ownership
(Instr. 5)

Common Stock 5000 ⁽¹⁾ D

Common Stock 15000 ⁽²⁾ D

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)

1. Title of Derivate Security
(Instr. 4) 2. Date Exercisable and Expiration Date
(MM/DD/YYYY) 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5) 6. Nature of Indirect Beneficial Ownership
(Instr. 5)

Date Exercisable Expiration Date Title Amount or Number of Shares

Explanation of Responses:

( 1) The common stock will vest provided that Mr. Lineberger's employment continues through the applicable vesting dates, in four equal installments beginning on November 2, 2007, and continuing for each of the three twelve-month periods following November 2, 2007, with the final installment vesting on November 2, 2010.

( 2) The common stock will vest provided that Mr. Lineberger's employment continues through the applicable vesting dates, in four equal installments beginning on February 5, 2008, and continuing for each of the three twelve-month periods following February 5, 2008, with the final installment vesting on February 5, 2011.

Reporting Owners

Reporting Owner Name / Address Relationships

Director 10% Owner Officer Other

Lineberger Steven A.
370 KNOLLWOOD STREET
SUITE 500
WINSTON-SALEM, NC 27103

Senior Vice President

Signatures

/s/Steven A. Lineberger 9/4/2007

^** Signature of Reporting Person Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	5000 ⁽¹⁾	D
Common Stock	15000 ⁽²⁾	D

*Table II - Derivative Securities Beneficially Owned ( e.g.* , puts, calls, warrants, options, convertible securities)**
1. Title of Derivate Security (Instr. 4)	2. Date Exercisable and Expiration Date (MM/DD/YYYY)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivate Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security		6. Nature of Indirect Beneficial Ownership (Instr. 5)

Explanation of Responses:
( 1)	The common stock will vest provided that Mr. Lineberger's employment continues through the applicable vesting dates, in four equal installments beginning on November 2, 2007, and continuing for each of the three twelve-month periods following November 2, 2007, with the final installment vesting on November 2, 2010.
( 2)	The common stock will vest provided that Mr. Lineberger's employment continues through the applicable vesting dates, in four equal installments beginning on February 5, 2008, and continuing for each of the three twelve-month periods following February 5, 2008, with the final installment vesting on February 5, 2011.

Reporting Owners
Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Lineberger Steven A. 370 KNOLLWOOD STREET SUITE 500 WINSTON-SALEM, NC 27103			Senior Vice President

Signatures
/s/Steven A. Lineberger		9/4/2007
^** Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:	File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.