Crumbs cupcake chain is shutting down

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The company’s stock, which once traded at $13 per share, had fallen below 30 cents a share last month. It was delisted from Nasdaq. It has limited remaining options including filing for Chapter 7 bankruptcy liquidation. It had been suffering from a steep decline in sales and reported a loss of $18.2 million last year. Its giant, indulgent cupcakes with signature flavors like Girl Scout Thin Mints, cookie dough and blackout, frosting-laden cupcakes in flavors such as caramel macchiato and red velvet cheesecake, all products will disappear. Crumbs got its start in 2003 with a shop on the Upper West Side of Manhattan, was bought by a  shell company in 2011 and after became public. At the end of last year, Crumbs listed 165 full-time employees and about 655 part-time hourly employees as working in its stores. So, people love ice cream ? Perhaps yes, but…

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