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Old 07-08-2014, 03:38 PM
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Default Crumbs Bake Shop Closing all Stores, Declaring Bankruptcy

For good or for ill, this might be the final farewell for this well-known cupcake chain retail bakery.
For stories in the media about the closure and bankruptcy: https://www.google.com/search?q=crum...x-a&channel=sb
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Old 07-13-2014, 02:12 PM
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Default CNBC star Marcus Lemonis will buy Crumbs cupcake chain

CNBC star Marcus Lemonis will buy Crumbs cupcake chain
In partnership with Dippin Dots-owner Fischer Enterprises, Lemonis has reached an agreement to buy the cupcake chain that abruptly closed its doors Monday. Lemonis told the News Friday evening he plans to expand Crumbs' offerings beyond cupcakes.
BY Phyllis Furman
NEW YORK DAILY NEWS
Published: Friday, July 11, 2014, 10:20 AM
Updated: Friday, July 11, 2014, 8:28 PM

It’s a sweet ending for Crumbs after all.

CNBC star Marcus Lemonis, in partnership with Dippin Dots-owner Fischer Enterprises, has reached an agreement to buy the cupcake chain that abruptly closed its doors on Monday.

As part of the agreement, Crumbs filed a voluntary bankruptcy filing on Friday.

Under the terms of the deal, Lemonis and his partner have already provided pre-petition financing to Crumbs and have committed to provide debtor-in-possession financing to the cupcake chain.

The partners look to ultimately acquire Crumbs, subject to bankruptcy court approval.

Lemonis told the News Friday evening he plans to expand Crumbs’ offerings beyond cupcakes. Earlier on Friday, the star of CNBC’s “The Profit” struck a deal to invest in Wicked Good Cupcakes. That snack brand and others will be added to Crumbs’ stores.

“We hope that the process is one that allows the stores to open quickly and put people back to work,” Lemonis told the Daily News late Friday.

“We know that in order for this business model to succeed it must have a diverse offering. Our hope is to create America's sweet and snack shop.”

Read more: http://www.nydailynews.com/life-styl...#ixzz37MFzvl9A
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