All food trends must come to an end and the end of the gourmet cupcake craze appears to be here. Crumbs Bake Shop, a New York-based chain, has officially closed all locations, just a week after it was delisted on Nasdaq.
Crumbs was at the forefront of the cupcake craze, opening 48 locations across 10 states and Washington, D.C. It went public in 2011, just as the craze reached its height. However, the company failed to branch out beyond cupcakes successfully and fizzled just as the craze did as well.
“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,” the company said in a statement to The Wall Street Journal.
Trading of the company’s shares on Nasdaq stopped on July 1, but the company’s struggles became obvious when nine stores closed at the end of last year. Six were closed earlier this year and the entire chain was closed at the end of business Monday.
“Crumbs has been really good to us, so I can’t be mad,” Sandra Davis, an employee who is now without a job, told CBS New York. “Unfortunately, we have to go.”
Crumbs got its start back in 2003 and was created by Jason and Mia Bauer in New York. They sold the company in 2011, before it went public.