Photo: Courtesy of Facebook.
Oversized cupcake lovers can breathe a collective sigh of relief today, because it looks like Crumbs has been saved. Lemonis Fischer Acquisition Company, LLC will acquire the bake shop in a Chapter 11 process, according to a press release.
The chain closed abruptly on Monday, leaving New Yorkers with a big question mark and hundreds of employees without jobs. The acquisition is a joint venture between Marcus Lemonis and Fischer Enterprises. While CNBC viewers will recognize Lemonis' name from The Profit, Fischer has several food ventures in its portfolio, including Dippin' Dots, Doc Popcorn, and Wicked Good Cupcakes (which this author can attest are, in fact, wicked good). So, these guys know what they're doing when it comes to snacks.
"We remain saddened that we were forced to cease operations before this agreement was reached, but we strongly believe that pursuing this sale through the chapter 11 process is ultimately in the best interest of the Company and its stakeholders,” said Edward M. Slezak, Crumbs Chief Executive Officer and General Counsel in the statement. In other words, he's sorry for breaking your heart, but wants you to know he has a plan to put the pieces back together.
This is fantastic news for New Yorkers. However, there are still some questions to be answered. Namely, when will we see Crumbs locations reopen? And, will employees get their jobs back? All we know for sure is Fischer and Lemonis are basically the Tim Howard of baked goods. (Mashable)