NYC-Based Cupcake Chain Crumbs in Talks, Could Rise Again

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    NEWSLETTERS

    Cupcake chain Crumbs is currently in talks to get the dough to rise again, the company said. 

    The New York company said it is in talks with "various interested parties" and could restructure its business days after abruptly closing its stores.

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    "We're pleased to be in talks with various interested parties that are allowing us to pursue all of our options for the business, which includes consideration of restructuring alternatives," CEO and General Counsel Edward Slezak said Thursday in a statement.

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    Crumbs was founded in 2003 by husband-and-wife team Jason and Mia Bauer on the Upper West Side. It was purchased by a shell company in 2011 and went public, selling giant cupcakes topped with M&Ms, cookie dough, and Girl Scout cookies.

    But the company has posted a loss for three straight years and was recently delisted from Nasdaq. Crumbs warned in May that it might have to cease operations if it didn't generate enough cash flow.

    In March it had 65 stores nationwide but couldn't say how many locations were left on Monday, when it closed all of its remaining stores. The company said Monday that it was considering options including a Chapter 7 bankruptcy liquidation.

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