That's the way the pricey cupcake crumbles.
Crumbs Bake Shops has closed its high-end cupcake stores after its stock was delisted by Nasdaq and it defaulted on about $14.3 million in financing.
Shares of Crumbs were as high as $3.49 in early 2013, but collapsed to 11 cents on June 30, its final day of trading. Employees were notified of the shutdown on Monday, according to published reports. The company had 165 full-time and 655 part-time employees as of the end of last year.
Kate Krader (@kkrader on Twitter) is Food & Wine's restaurant editor. When she tells us where to find our culinary heart's desire, we listen up.
After looking at 5 million pictures of towering, melting, drool-inducing ice cream cones on my Instagram feed I realized this: We’re in the golden age of ice cream.
There’s lots of people and institutions to thank for this. On the old-school front: Baskin-Robbins has introduced attention-getting flavors like State Fair Fried Dough (chunks of funnel cake and fried dough in caramel ice cream, hello!). Also, some amazing, already-beloved ice cream stores are expanding: Jeni’s has set up shop in Charleston, South Carolina, and Salt & Straw has opened in L.A. My heroes Big Gay Ice Cream are opening in L.A. and Philadelphia.