Crumbs Bake Shop Closes All Stores

Is this the official end of the historic cupcake era? Crumbs Bake Shop announced Monday that it would close all 48 stores in 10 states at the end of the business day. The cupcake company said it faced limited options and is still considering filing for bankruptcy protection. After going public three years ago, Crumbs has faced dwindling profits and began shuttering stores at the end of 2013. On July 1, Nasdaq suspended trading in Crumbs shares, which had falled from $13 to less than 30 cents.