Crumbs Bake Shop shuts down all 65 stores - New York News

Crumbs Bake Shop shuts down all 65 stores

Posted: Updated:
NEW YORK (MYFOXNY) -

Crumbs Bake Shops are no more. The cupcake maker told workers it was shutting down all stores by the end of business on Monday.

Crumbs was founded on the Upper West Side in 2003, selling gourmet cupcakes and is credited with pioneering the cupcake craze in New York City. The family-owned shop was bought by a shell company in 2011 and went public that June.

Since going public, Crumbs has faced serious financial problems. In 2012, Crumbs lost $10.3 million, according to securities filings. In 2013, Crumbs lost an additional $18.2 million on top of their 2012 losses.

The stock plummeted below 30 cents in June, prompting Nasdaq to suspend Crumb’s stock from the exchange because it didn’t meet the minimum stockholders equity requirement.

165 employees and 655 part-time workers were let go as a result of the shutdown.


  • Local NewsLocal NewsMore>>

  • Report: Joan Rivers on slow road to recovery

    Report: Joan Rivers on slow road to recovery

    Tuesday, September 2 2014 1:08 PM EDT2014-09-02 17:08:01 GMT

    Hollywood icon Joan Rivers, 81, is reportedly on a slow road to recovery after she went into cardiac arrest at a New York City doctor's office. Rivers remains in serious condition at The Mount Sinai Hospital in Manhattan, according to her daughter, Melissa Rivers.  Doctors were expected to slowly remove Rivers from a medically-induced coma on Tuesday to asses her brain functionality.

    Hollywood icon Joan Rivers, 81, is reportedly on a slow road to recovery after she went into cardiac arrest at a New York City doctor's office. Rivers remains in serious condition at The Mount Sinai Hospital in Manhattan, according to her daughter, Melissa Rivers. Doctors were expected to slowly remove Rivers from a medically-induced coma on Tuesday to asses her brain functionality.

  • Crash in Lincoln Tunnel causes major delays

    Crash in Lincoln Tunnel causes major delays

    Tuesday, September 2 2014 12:33 PM EDT2014-09-02 16:33:28 GMT
    One of the tubes of the Lincoln Tunnel was closed for nearly four hours after a chain-reaction accident involving a New York-bound jitney bus and two other vehicles. Port Authority of New York and New Jersey spokesman Steve Coleman says three people were reported injured in the accident in the center tube at about 8:30 a.m. Tuesday.
    One of the tubes of the Lincoln Tunnel was closed for nearly four hours after a chain-reaction accident involving a New York-bound jitney bus and two other vehicles. Port Authority of New York and New Jersey spokesman Steve Coleman says three people were reported injured in the accident in the center tube at about 8:30 a.m. Tuesday.

  • $2.4B Revel casino shuts down after just 2 years

    $2.4B Revel casino shuts down after just 2 years

    Tuesday, September 2 2014 10:47 AM EDT2014-09-02 14:47:40 GMT
    Revel in Atlantic City, New Jersey. (Photo courtesy Revel Entertainment)Revel in Atlantic City, New Jersey. (Photo courtesy Revel Entertainment)
    Revel Casino Hotel closed its doors Tuesday morning, a little more than two years after opening with high hopes of turning around Atlantic City's struggling casino market.
    Revel Casino Hotel closed its doors Tuesday morning, a little more than two years after opening with high hopes of turning around Atlantic City's struggling casino market. The 5:25 a.m. casino shutdown followed the closure of its hotel on Monday. By mid-September, four of Atlantic City's 12 casinos will have closed, but none will be a costlier failure than Revel.
Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices