Will Crumbs Cupcake Chain Reopen Its Doors?
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ABC News(NEW YORK) — Crumbs is looking to cook up a new recipe to stay in business.
On Monday, the cupcake company abruptly closed all of its retail stores and ceased operations of online orders.
“Regrettably Crumbs has been forced to cease operations and is immediately attending to the dislocation of its devoted employees while it evaluates its limited remaining options,” the company said in a statement to ABC News Tuesday.
Now, rumors are emerging of a potential takeover bid for the cupcake maker by a group of investors. Foremost among this group is Marcus Lemonis, host of CNBC’s The Profit, a show based on turning around failing businesses.
Any potential recovery effort for Crumbs, however, could include expanding the business beyond its cupcakes and into a sweets and snack shop.
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