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.
Hitting the grocery store is getting more costly.
Beef prices are at a record high, and the cost of other staples, such as milk, butter, eggs, fruit and vegetables are climbing. With a severe drought ravaging farms across most of California, prices are at risk of shooting significantly higher this year.
U.S. banana producer Chiquita Brands International and Ireland's Fyffes have agreed to merge and create the world's largest banana company.
The combined company, to be known as ChiquitaFyffes, is set to displace privately-held Dole from the No. 1 spot.
Could guacamole and some salsas become victims of global warming? Possibly, says Chipotle Mexican Grill.
The restaurant chain, in an annual report, listed drought and global weather change among a long list of business risks faced by the company.
McDonald's plans to open its first restaurant in Vietnam, the fast food company said Tuesday, making it the latest U.S. brand to move into the communist country that was once at war with the United States.
McDonald's says it has awarded a franchise for a location in Ho Chi Minh City that should open early next year.
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