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Crumbs Bake Shop Tanks, Signaling End of Cupcake Era

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Yelp

Last night all 48 locations of the NYC-based jumbo cupcake chain Crumbs Bake Shop closed their doors for good. The company was forced to abruptly shutter its shops after its stock plummeted and was pulled from the Nasdaq last week, the Wall Street Journal reports. Crumbs opened its first store on the Upper West Side in 2003 and eventually expanded to sell its softball-size cupcakes in ten different states, but sales have been flatlining for some time now. Now it's unclear whether the company will declare bankruptcy, or be purchased by another company, but meanwhile all Crumbs employees are abruptly out of work. Crumbs told the Journal: "Regrettably Crumbs has been forced to cease operations… while it evaluates its limited remaining options."
· Crumbs Bake Shop Closing Its Doors [WSJ]
· Trendy Cupcake Shop Crumbs Suddenly Closes [NYP]
· All Coverage of Crumbs [~ENY~]

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