Fans of the intensely sweet and decadent Crumbs cupcakes rejoice!
Just four days after Crumbs closed all their stores due to bankruptcy, the company reached an agreement with Lemonis Fischer Acquisition Company, LLC, a joint venture created by Marcus Lemonis LLC and Fischer Enterprises, L.L.C. The Asset Purchase Agreement will provide Lemonis Fischer with all of Crumbs’ assets within the next 60 days, assuming that the Bankruptcy Court approves the transaction. In other words, Crumbs is makin’ a comeback.
“We are very pleased to have reached this agreement with Lemonis and Fischer after carefully evaluating opportunities to strengthen Crumbs’ financial position in order to ensure a strong future for the Crumbs brand and business,” Edward M. Slezak, Crumbs Chief Executive Officer and General Counsel told the Wall Street Journal.
Fischer Enterprises’ portfolio includes other delicious and popular dessert and snack companies, including Dippin’ Dots, Doc Popcorn and Wicked Good Cupcakes, so we can be assured that the company will bring Crumbs back to life in the best way possible.
Although many were quick to assume Crumbs had crumbled under the pressure of trendier, newer NYC cupcake stores, selling smaller versions of the beloved treat, Lemonis Fischer has high hopes for the company’s future in the new Chapter 11 reorganization.
“Crumbs is known for its high-quality cupcakes, which will remain a mainstay in the new company but will be supplemented by a much improved product mix to broaden its appeal to a larger customer base,” Scott Fischer, the chief operating officer of Fischer Enterprises, said in a statement to TIME magazine.
Seems like the ongoing cupcake craze is strong enough to support even the least popular bakeries on the cupcake totem pole. But do we think Crumbs can really survive? Or did we all secretly nod in agreement when they announced their closing? Only time will tell…