public traded as otc pink no information crmwq industry bakery founded 2003 july 2014 october 2014 founder mia & jason bauer headquarters new york new york u.s. products cupcakes cakes revenue 57 million 2013 revised projection 1 website crumbs bake shop crumbs cupcakes in a display case crumbs bake shop aka crumbs or crumbs bakery is a bakery chain headquartered in new york city . founded in 2003 as a small mom and pop style bakery on the upper west side of manhattan by mia & jason bauer the company expanded to 79 locations in eight states new york illinois virginia new hampshire massachusetts new jersey rhode island and california and washington d.c. . 2 crumbs was the largest cupcake chain in the united states . 3 it produced more than 50 varieties of gourmet cupcakes . 4 crumbs reopened on october 14 2014 at its broadway location in new york . it plans to slowly reopen more stores in the near future . 5 contents 1 partnerships 2 financial status 3 references 4 external links partnerships edit on august 6 2012 the company announced a partnership with starbucks to serve their brand of coffees teas and other assorted beverages . the partnership ended in september 2013 due to a sharp decrease in sales and customer satisfaction . 6 on may 15 2013 the company announced it had partnered with chef and restaurateur david burke to begin marketing a new line of gourmet sandwiches and salads to be sold at select crumbs locations . 7 this partnership ended roughly a month later due to poor sales . on september 13 2013 the company announced the planned opening of their first ever gluten free store in lower manhattan . crumbs gluten free featured the same cupcakes cookies brownies and pastries that the brand is known for in gluten free versions . 8 on february 4 2014 the company announced a partnership with pelican bay ltd. to create a line of at home kits including crumbs cupcake mixes hot chocolate kits cupcake in a mug kits and colossal cupcake kits . the line was sold at club and craft stores across the country . 9 financial status edit crumbs bake shop a publicly traded business listed on nasdaq reached its peak stock price in 2011 . a one time loss of us 700 000 due to hurricane sandy in combination with steadily declining sales due to competition from locally owned mom and pop cupcake shops as well as increased competition from grocery stores caused a sharp decline in the company s prospects and stock price in 2013 . 1 crumbs borrowed 10 million through convertible promissory notes and announced plans to close some underperforming stores in 2013 . 1 on july 8 2014 the company announced it was immediately closing all of the remaining locations and evaluated its options including a possible bankruptcy filing . 10 crumbs which went public three years ago at the height of the gourmet cupcake boom has seen its financial outlook deteriorate amid several years of losses a dwindling cash supply and a food craze that is petering out . the company s stock was delisted from the nasdaq stock market on july 1 a development that the company warned would trigger a default on some debt payments . 11 shortly after crumbs closed its shops an announcement was made that a deal had been reached to transfer the rights to the chain to an investment group including marcus lemonis of the cnbc reality show the profit and fischer enterprises . the group stated that their intentions were to rapidly reopen stores with more diverse offerings . 12 as part of the agreement the existing corporation filed for bankruptcy and court approval was needed to finalize the deal . 13 on august 26 2014 crumbs won court approval to start reopening its stores ; it plans to keep only about 24 stores open . 14 on october 14 2014 crumbs reopened its first shop in manhattan . marcus lemonis sold his interest in the crumbs retail stores in september 2015 as the baked goods venture wasn t performing to expectations . 15 in april 2016 the value of crumbs stock had fallen to less than .01 per share . references edit a b c maltby emily and sarah needleman 17 april 2013 . forget gold the gourmet cupcake market is crashing . the wall street journal . retrieved 28 april 2013 . crumbs bake shop adds gluten free . crumbs . 13 sep 2013 . retrieved september 13 2013 . sweet success largest chain . newsweek . retrieved 2011 02 14 . cupcakes varieties produced . crumbs . retrieved 2011 02 14 . http www.crumbs.com coffee with that cupcake a crumbs bake shop follow up crumbs bake shop inc nasdaq crmb . seeking alpha . retrieved 2014 08 27 . david burke partners with crumbs bake shop nasdaq crmb . crumbs investors . 2013 05 15 . retrieved 2014 08 27 . crumbs bake shop . crumbs . retrieved 2014 08 27 . crumbs bake shop inc. partners with pelican bay ltd. . yahoo . 2014 07 14 . retrieved 2014 08 27 . cupcake purveyor crumbs bake shop closes l.a. other stores . los angeles times . retrieved july 8 2014 . cupcake bubble bursts crumbs throws in the towel . the wall street journal . july 8 2014 . sam frizell 2014 07 11 . cnbc star marcus lemonis will buy crumbs cupcake chain . ny daily news . retrieved 2014 08 27 . crumbs bake shop chapter 11 petition pdf . pacermonitor . pacermontitor . retrieved 15 june 2016 . randazzo sara 2014 08 26 . crumbs bake shop to reopen stores after court approval . the wall street journal . retrieved 2014 08 27 . http www.chicagobusiness.com article 20150901 blogs09 150909994 marcus lemonis sells stake in crumbs external links edit official website retrieved from https en.wikipedia.org w index.php title crumbs bake shop & oldid 739878903 categories bakeries of the united statescompanies established in 2003food production companies based in new york citypublicly traded companies based in new york cityupper west side2003 establishments in new york2014 establishments in new york navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 17 september 2016 at 16 51 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit organization . privacy policy about wikipedia disclaimers contact wikipedia developers cookie statement mobile view