Last week the cupcake chain Crumbs shut down all of its stores, but now it looks like at least some will reopen. Shortly after the closures, a group of investors announced that that they would save the purveyor of giant cupcakes. Marcus Lemonis, who stars on the reality show The Profit and Fischer Enterprises, which owns Dippin' Dots, have formed a joint venture, dubbed Lemonis Fischer Acquisition Company. The company announced late last Friday that it will acquire the New York-based Crumbs chain that at one point had 70 locations nationwide. CNN writes the company is "looking at Crumbs' business strategy" and is considering "reopening some locations that were closed or opening new ones."
After Crumbs voluntarily files for bankruptcy, Lemonis and Fischer Enterprises will take the company private and convert it from a cupcake store into a "'sweet and snack' destination." They plan to still offer its signature cupcakes but will also add in other products "owned or controlled" by either Lemonis and Fischer. This means that Crumbs shops could soon be selling brands like Dippin' Dots ice Cream, Doc Popcorn, Mr. Green Tea Ice cream, and Sweet Pete's Candy, as well as a "host of gluten-free baked goods." The stores will also sell a "product from an episode of the upcoming fall season" of The Profit. There is no word yet on when the stores will reopen.
· Marcus Lemonis, Fischer Enterprises to Provide Financing to Crumbs [BusinessWire]
· New Life for Crumbs Cupcakes [CNN]
· All Crumbs Coverage on Eater [-E-]