Surprise! Crumbs Bake Shop May Soon Reopen Its Doors

by Karl Utermohlen | July 14, 2014 1:19 pm

Surprise! Crumbs Bake Shop May Soon Reopen Its Doors

Crumbs Bake Shop (CRMB[1]) appears to be coming back[2] only days after the company’s stores shut down[3].

Crumbs Bake Shop 185 Surprise! Crumbs Bake Shop May Soon Reopen Its Doors[4]Financial problems caused the sweets-maker to file for bankruptcy a couple of weeks after the company delisted from Nasdaq[5]. 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.

Endnotes:
  1. CRMB: /stock-quotes/CRMB-stock-quote/
  2. coming back: http://time.com/2978333/crumbs-bankruptcy-investors/
  3. shut down: http://investorplace.com/2014/07/crumbs-cupcake-crmb-stock/#.U8QNpaiwXRE
  4. [Image]: http://investorplace.com/wp-content/uploads/2013/12/Crumbs-Bake-Shop-185.jpg
  5. delisted from Nasdaq: http://investorplace.com/2014/06/americas-largest-cupcake-chain-crumbs-delisting-nasdaq/#.U8QNqaiwXRE

Source URL: http://investorplace.com/2014/07/crumbs-bake-shop-crmb-stock/
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