Crumbs Bake Shop Might Be Saved

THERE IS HOPE YET

Updated Apr. 14, 2017 3:31PM EDT / Published Jul. 12, 2014 10:12AM EDT

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.

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Crumbs Bake Shop Might Be Saved

Andrew Burton/Getty