The Closing of Crumbs and the End of the Cupcake EraBy
Crumbs Bake Shop shut down all its stores at the close of business on Monday, according to a report in the Wall Street Journal. The cupcake calamity comes amid vanishing same-store sales and over-saturation of shops in certain areas during the fad for the frosted dessert. Signs of danger were unmistakable: Nasdaq suspended trading of Crumbs shares last Tuesday for the company’s failure to have the required minimum of $2.5 million in shareholder equity.
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