Based in New York City, Crumbs Bake Shop, the nation’s largest cupcake company, recently filed for Chapter 7 bankruptcy liquidation of its 65 stores in 12 states and Washington, D.C.   Crumbs notified all its 165 full-time employees and 655 part-time hourly employees that the business is closing.  Founded in 2003 and listed on the Nasdaq in 2011, Crumbs Bake Shop was famous for selling giant cupcakes in flavors such as Red Velvet, Cookie Dough, and Girl Scouts Thin Mints.  The company could not withstand its Q1 2014 loss of $3.8 million that followed losses in prior quarters.  Analysts say the company’s demise was due to rapid expansion, competition, high prices, and consumers becoming less passionate about high sugar sweets.  Crumbs’ last day on the Nasdaq was June 30, 2014 at a stock price of 11 cents.

Source:  Based on information at the www.crumbs.com website.