The Rise And Fall Of The Crumbs Cupcake Empire
Jun 6, 2014, 00:01 IST
The world's largest cupcake company is crumbling.
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Crumbs Bake Shop's stock price has plunged to around 27 cents per share from a high of $14 per share in July of 2011.
The once-hot bakery catapulted to fame thanks to a cupcake craze that swept across the U.S. in the early 2000s. Shortly after going public in 2011, however, Crumbs began losing money.
The company is now closing stores and its auditors are expressing doubt over whether Crumbs can stay in business.