Crumbs Bake Shop shuts down all 65 stores - Los Angeles News | FOX 11 LA KTTV

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>>

  • Friday Night Live: July 25, 2014

    Friday Night Live: July 25, 2014

    Friday, July 25 2014 10:31 PM EDT2014-07-26 02:31:59 GMT
    This is Fox 5's Friday Night Live, a weekly celebration of the end of the work week. All summer long, the Fox 5 team brings you the latest in entertainment, nightlife, food, and music in our area. In this jam-packed episode: QuickChek New Jersey Festival of Ballooning, Stephen "Twitch" Boss, actress Mary Lynn Rajskub, and Michael Chernow and Chef Daniel Holzman of the Meatball Shop.
    This is Fox 5's Friday Night Live, a weekly celebration of the end of the work week. All summer long, the Fox 5 team brings you the latest in entertainment, nightlife, food, and music in our area. In this jam-packed episode: QuickChek New Jersey Festival of Ballooning, Stephen "Twitch" Boss, actress Mary Lynn Rajskub, and Michael Chernow and Chef Daniel Holzman of the Meatball Shop.
  • G subway line shutting down for 5 weeks

    G subway line shutting down for 5 weeks

    Friday, July 25 2014 9:37 PM EDT2014-07-26 01:37:26 GMT
    Beginning Friday night, a portion of the G subway line that connects Brooklyn and Queens will be shut down for five weeks.
    The MTA says there will be no service between the Nassau Avenue station in Greenpoint and Court Square in Long Island City until Sept. 2.
    Beginning Friday night, a portion of the G subway line that connects Brooklyn and Queens will be shut down for five weeks.
    The MTA says there will be no service between the Nassau Avenue station in Greenpoint and Court Square in Long Island City until Sept. 2.
  • The Big Idea

    Making New York City more energy efficient

    Making New York City more energy efficient

    Friday, July 25 2014 8:45 PM EDT2014-07-26 00:45:49 GMT
    More than half the population of New York City rides public transportation to work. No other metropolis in this country even approaches that percentage or the MTA's total number of riders. For that reason, New York likely ranks as the most energy-efficient city in the nation. But what would it take to make the city even more energy-efficient or even self-sufficient?
    More than half the population of New York City rides public transportation to work. No other metropolis in this country even approaches that percentage or the MTA's total number of riders. For that reason, New York likely ranks as the most energy-efficient city in the nation. But what would it take to make the city even more energy-efficient or even self-sufficient?
Powered by WorldNow

KTTV FOX 11
1999 S. Bundy Dr.
Los Angeles CA 90025

Main: (310) 584-2000
News Tips? (310) 584-2025

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