Surprise! Crumbs Bake Shop May Soon Reopen Its Doors

The bakery will continue focusing on cupcakes

   

Surprise! Crumbs Bake Shop May Soon Reopen Its Doors

Crumbs Bake Shop (CRMB) appears to be coming back only days after the company’s stores shut down.

Crumbs Bake Shop 185 Surprise! Crumbs Bake Shop May Soon Reopen Its DoorsFinancial problems caused the sweets-maker to file for bankruptcy a couple of weeks after the company delisted from Nasdaq. However, cupcake lovers will be excited to hear that Crumbs Bake Shop is making an immediate comeback.

The bakery — which has listed assets and liabilities of between $10 million and $50 million each — is being taken over by a financier group that includes CNBC host Marcus Lemonis and Dippin’ Dots owner Fischer Enterprises. The group is planning on making Crumbs Bake Shop a successful cupcake shop once again.

“Crumbs is known for its high-quality cupcakes,” said Fischer Enterprises CEO Scott Fischer in a statement. “Which will remain a mainstay in the new company but will be supplemented by a much improved product mix to broaden its appeal to a larger customer base.”

CRMB stock is down close to 40% Monday afternoon.


Article printed from InvestorPlace Media, http://investorplace.com/2014/07/crumbs-bake-shop-crmb-stock/.

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