Crumbs Bake Shop Closing Down All Locations

[hrmjustin]

NEW YORK (CBSNewYork) — The Crumbs Bake Shop chain was set to close all of its locations at the end of the business day Monday, a manager told CBS 2.

The manager of the Crumbs bake shop in Times Square confirmed that the chain – which is of 2011 was reported to be the largest chain of cupcake bakeries in the country – will be closing all its stores.

Corporate representatives did not immediately return calls for comment.

Crumbs went public amid a gourmet cupcake boom in 2011, but has been suffering as the boom has fizzled out, according to a Wall Street Journal report. Nine stores shut down in the closing months of 2013, and six more at the beginning of this year, the newspaper reported.

http://newyork.cbslocal.com/2014/07/07/cbs-2-crumbs-bake-shop-closing-down-all-locations/

[Hoppy]

1. Short the stock.