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>>

  • Lawyer says family of girl with Uzi is devastated

    Lawyer says family of girl with Uzi is devastated

    Tuesday, September 2 2014 10:00 PM EDT2014-09-03 02:00:24 GMT
    An attorney for the parents of a 9-year-old girl who accidentally killed an Arizona shooting range instructor with an Uzi say the family is devastated by the tragedy that occurred on a brief excursion during a...
    An attorney for the parents of a 9-year-old girl who accidentally killed an Arizona shooting range instructor with an Uzi say the family is devastated by the tragedy that occurred on a brief excursion during a vacation.
  • Deadly crash in Lincoln Tunnel

    Deadly crash in Lincoln Tunnel

    Tuesday, September 2 2014 8:15 PM EDT2014-09-03 00:15:54 GMT

    Officials say a New Jersey man has died from injuries he suffered in a chain-reaction crash inside one of the tubes of the Lincoln Tunnel.  Port Authority of New York and New Jersey police spokesman Joe Pentangelo says the 49-year-old Summit resident was among three people hurt in the accident.


    Officials say a New Jersey man has died from injuries he suffered in a chain-reaction crash inside one of the tubes of the Lincoln Tunnel.  Port Authority of New York and New Jersey police spokesman Joe Pentangelo says the 49-year-old Summit resident was among three people hurt in the accident.



  • CEO resigns Conn. company over dog abuse

    CEO resigns Conn. company over dog abuse

    Tuesday, September 2 2014 7:05 PM EDT2014-09-02 23:05:35 GMT
    Sports catering business Centerplate has announced that its chief executive has resigned following widespread criticism over images from an elevator security camera showing he kicked a friend's dog and pulled...
    Sports catering business Centerplate has announced that its chief executive has resigned following widespread criticism over images from an elevator security camera showing he kicked a friend's dog and pulled hard on...
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