Financial 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.