Crumbs Goes Out of Business

If you've been to the Northshore Mall recently, you might have noticed the Crumbs Bake Shop stand in the middle of the mall has gone dark.

The cupcake chain has decided to close all of its locations. 

The Wall Street Journal reported that the "Nasdaq Stock Market suspended trading of Crumbs shares July 1, citing the company's failure to meet a requirement of either having at least $2.5 million in shareholder equity or meeting benchmarks for its market cap or annual net profit."

The company's stock once went for $13 per share, but dipped to 30 cents last month, reported the Wall Street Journal.  

The Associated Press reported that the company will file for Chapter 7 bankruptcy liquidation. 


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