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After a sudden announcement to employees Monday, the New York-based cupcake maker Crumbs Bake Shop has closed all of its shops, in New York and across the country.
“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.
The closure comes amid financial woes after years of losses, and what some see as the falling popularity of gourmet cupcakes. Jason Bellini of The Wall Street Journal joins Here & Now’s Jeremy Hobson with details.
This segment aired on July 8, 2014.