The bloom may be coming off the cupcake rose. New York-base Crumbs Bake Shop, which entered the Washington market with much fanfare four years ago, will close all its stores and may file for bankruptcy protection, The Wall Street Journal reported.
Crumbs has five locations in and around Washington and three in Baltimore, according to its website. The bakery, which first opened on Manhattan’s Upper West Side in 2003, claimed to have started the gourmet cupcake craze.
Crumbs (Nasdaq: CRMB) went public three years ago but was delisted from The Nasdaq Stock Market a week ago.
