Crumbs Bake Shop shuts down all 65 stores - myfoxcarolinas.com

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>>

  • Another company to give family free cruise

    Family of 5-year-old with cancer upset with cruise line

    Family of 5-year-old with cancer upset with cruise line

    Friday, July 25 2014 6:52 PM EDT2014-07-25 22:52:08 GMT
    A Long Island family is upset that a cruise line won't accommodate them after their 5-year-old son had to have emergency surgery for cancer. Nicolas Colucci and the rest of his family was supposed to go on a cruise on the Norwegian Breakaway. They did not buy travel insurance, so Norwegian says they cannot rebook the cruise so close to departure. The CEO of a rival cruise line saw their story and reached out to the Colucci family to offer them a free cruise.
    A Long Island family is upset that a cruise line won't accommodate them after their 5-year-old son had to have emergency surgery for cancer. Nicolas Colucci and the rest of his family was supposed to go on a cruise on the Norwegian Breakaway. They did not buy travel insurance, so Norwegian says they cannot rebook the cruise so close to departure. The CEO of a rival cruise line saw their story and reached out to the Colucci family to offer them a free cruise.
  • Hudson River Sloop Clearwater

    Pete Seeger's environmental legacy lives on

    Pete Seeger's environmental legacy lives on

    Friday, July 25 2014 6:16 PM EDT2014-07-25 22:16:30 GMT
    American folk singer and activist Pete Seeger's passion for music and the environment embodied who he was every single day of his life. In 1966, Seeger co-founded the organization Hudson River Sloop Clearwater. Ever since, Seeger's 106-foot-long sloop, Clearwater, has been sailing up and down the Hudson River to educate and inspire children to protect the environment.
    American folk singer and activist Pete Seeger's passion for music and the environment embodied who he was every single day of his life. In 1966, Seeger co-founded the organization Hudson River Sloop Clearwater. Ever since, Seeger's 106-foot-long sloop, Clearwater, has been sailing up and down the Hudson River to educate and inspire children to protect the environment.
  • Eric Garner's family seeks federal probe of police custody death

    Eric Garner's family seeks federal probe of police custody death

    Friday, July 25 2014 5:46 PM EDT2014-07-25 21:46:48 GMT
    Family members of a man who died in police custody, the Rev. Al Sharpton and others met with federal prosecutors Friday to press for an investigation into the death. An amateur video shows a plainclothes police officer placing Garner in what appears be a chokehold last week while arresting him on Staten Island. The 43-year-old Garner can be heard gasping, "I can't breathe!" Chokeholds are banned under New York Police Department policy.
    Family members of a man who died in police custody, the Rev. Al Sharpton and others met with federal prosecutors Friday to press for an investigation into the death. An amateur video shows a plainclothes police officer placing Garner in what appears be a chokehold last week while arresting him on Staten Island. The 43-year-old Garner can be heard gasping, "I can't breathe!" Chokeholds are banned under New York Police Department policy.
Powered by WorldNow

WJZY FOX 46
3501 Performance Rd.
Charlotte, NC 28214
Main Number: (704) 398-0046

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices