Crumbs Bake Shop Might Be Saved

    NEW YORK, NY - JULY 08:  A Crumbs Bake Shop sign hangs in an empty store after it was announced Crumbs is closing all its stores on July 8, 2014 in New York City. Crumbs has closed all of its locations after low sales, a reported a loss of $18.2 million last year, and after being de-listed by Nasdaq last week. Crumbs opened in 2003 in New York City and had 65 locations as of April, 2014.  (Photo by Andrew Burton/Getty Images)

    Andrew Burton/Getty

    After filing for bankruptcy and shuttering its nearly 50 locations in 10 states, there might still be hope for oversized cupcake purveyor Crumbs Bake Shop. A new ownership deal has been made with Marcus Lemonis, “business turnaround king” and star of reality show The Profit, and Fischer Enterprise, the company that owns Dippin Dots. If the deal is approved by a bankruptcy judge, the two would provide debtor-in-possession financing, buy Crumbs through a joint venture called Lemonis Fischer Acquisition Co., take the cupcake chain private again and reopen its stores. A “much improved” product mix is also planned to broaden the bake shop’s offerings and reach a larger customer base.

    Read it at The New York Post