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Crumbs Bakeshop Files for Bankruptcy, Cites $4M Loss

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TWC News: Crumbs Bakeshop Files for Bankruptcy, Cites $4M Loss
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The cupcake has crumbled as city-based Crumbs Bake Shop has announced it has closed all of its stores.

The company, which was founded in 2003, recently reported a steep decline in sales, resulting in nearly $4 million in losses.

It will file for Chapter 7 bankruptcy liquidation, putting employees at locations across 10 states and Washington D.C. out of a job.

Shares in Crumbs traded publicly from 2011 until last week, when the Nasdaq dropped the listing.

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