A handful of cupcake-hungry investors have picked up the pieces and will resurrect the shuttered Crumbs cupcake store chain.
The chain abruptly closed all 48 of its stores across 10 states on July 8th. Now, according to a report in the Chicago Tribune and a press release, Crumbs will be acquired in a Chapter 11 process by the newly formed Lemonis Fischer Acquisition Company, LLC, a joint venture created by Marcus Lemonis LLC and Fischer Enterprises, L.L.C.. Lemonis hosts CNBC’s The Profit.
“We remain saddened that we were forced to cease operations before this agreement was reached, but we strongly believe that pursuing this sale through the chapter 11 process is ultimately in the best interest of the Company and its stakeholders,” said Edward M. Slezak, Crumbs Chief Executive Officer and General Counsel. Read more…
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Investors Revive Crumbs
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