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| The Crumbs shop at the Natick Mall |
In a statement to the Wall Street Journal Crumbs announced the sad news, "Regrettably Crumbs has been forced to cease operations and is immediately attending to the dislocation of its devoted employees while it evaluates its limited remaining options." Days ago, the chain was suspended from Nasdaq, which triggered a default on its debt. As of 8:45 am/ET on Tuesday, July 8, 2014, the Crumbs website was still up as if nothing had happened.
So, why did this popular cupcake shop lose it all? My educated guess: they expanded way too quickly. At first, Crumbs was an NYC thing. I would always stop by during a visit to the city and get my favorite, the Baba Booey. But then, I noticed I could get the Baba Booey at Crumbs in Natick, Mass. Then, I could order it at a couple of locations in the Prudential Center in Boston. Crumbs quickly popped up at the Providence Place Mall in Rhode Island. Then, Westfarms Mall in Connecticut. You get the picture. Too many stores in too little time with too few customers. It's too bad. There's still hope that Crumbs will get it together. Maybe they will reopen a few of their NYC spots. For now, at least we will have Georgetown Cupcake.
Closings , Cupcakes , National Chains
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