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Crumbs Closes All Stores as Crumbnuts Fail to Revive Chain

Crumbs Bake Shop Inc., the cupcake chain facing default on more than $14 million in loans, closed all of its stores yesterday after years of struggling to make money in a crowded market.

“Crumbs has been forced to cease operations and is immediately attending to the dislocation of its devoted employees while it evaluates its limited remaining options,” the New York-based company said today in an e-mailed statement.