#MR CRUMB BAKERY FREE#

On October 14, 2014, Crumbs reopened its first shop in Manhattan. On August 26, 2014, Crumbs won court approval to start reopening its stores, intending to keep only about 24 stores open. As part of the agreement the existing corporation filed for bankruptcy, and court approval was needed to finalize the deal. The group stated that their intentions were to rapidly reopen stores with more diverse offerings.

Shortly after Crumbs closed its shops, an announcement was made that a deal had been reached to transfer the rights to the chain to an investment group including Marcus Lemonis (of the CNBC reality show The Profit) and Fischer Enterprises. The company’s stock was delisted from the NASDAQ Stock Market on July 1, a development that the company warned would trigger a default on some debt payments. Crumbs, which went public three years ago at the height of the gourmet-cupcake boom, has seen its financial outlook deteriorate amid several years of losses, a dwindling cash supply, and a food craze that is petering out. On July 8, 2014, the company announced it was immediately closing all of the remaining locations and evaluated its options, including a possible bankruptcy filing. Crumbs borrowed $10 million through convertible promissory notes and announced plans to close some underperforming stores in 2013. A one-time loss of US $700,000 due to Hurricane Sandy in combination with steadily declining sales due to competition from locally owned mom-and-pop cupcake shops as well as increased competition from grocery stores, caused a sharp decline in the company's prospects and stock price in 2013. The company shut the doors for customers on December 19, 2016.Ĭrumbs Bake Shop, a publicly traded business listed on NASDAQ, reached its peak stock price in 2011. The line was sold at club and craft stores across the country.

to create a line of At-Home kits, including Crumbs Cupcake mixes, hot chocolate kits, cupcake-in-a-mug kits and 'Colossal' cupcake kits.

On February 4, 2014, the company announced a partnership with Pelican Bay Ltd.

#MR CRUMB BAKERY FREE#

Crumbs Gluten Free featured the same cupcakes, cookies, brownies and pastries that the brand is known for in gluten-free versions. On September 13, 2013, the company announced the planned opening of their first ever gluten-free store in lower Manhattan. This partnership ended roughly a month later due to poor sales. On May 15, 2013, the company announced it had partnered with chef and restaurateur David Burke to begin marketing a new line of gourmet sandwiches and salads to be sold at select Crumbs locations. The partnership ended in September 2013 due to a sharp decrease in sales and customer satisfaction. On August 6, 2012, the company announced a partnership with Starbucks to serve their brand of coffees, teas, and other assorted beverages. Crumbs reopened on Octoat its Broadway location in New York and other locations after a three-month shutdown, and then closed all of its reopened stores permanently in December 2016. It produced more than 50 varieties of gourmet cupcakes. Ĭrumbs was the largest cupcake chain in the United States. Founded in 2003 as a small mom-and-pop style bakery on the Upper West Side of Manhattan by Mia & Jason Bauer, the company expanded to 79 locations in ten states ( New York, Illinois, Virginia, Connecticut, New Hampshire, Massachusetts, New Jersey, Rhode Island, Maryland, and California) and Washington, D.C. $57 million (2013 revised projection) Ĭrumbs Bake Shop was a bakery chain headquartered in New York City.

Mr crumb bakery