Marcus Lemonis told the LA Times that he is stabilizing the company as a “prelude to an acquisition.”
The home of giant cupcakes and countless caloric delights Crumbs Bake Shop is not finished yet, at least not according to an AP interview CEO and General Counsel Edward Slezak, who announced on Thursday: “We’re pleased to be in talks with various interested parties that are allowing us to pursue all of our options for the business, which includes consideration of restructuring alternatives.”
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That’s a mouthful.
In March, Crumbs had as many as 65 stores nationwide, but last Monday all of its remaining stores where shut down, and the company said it was considering a Chapter 7 bankruptcy liquidation.
Well, on Thursday, Lebanese-born American businessman, investor, television personality and philanthropist Marcus Lemonis, star of CNBC’s “The Profit” show and chairman and CEO of Camping World and Good Sam Enterprises, Lemonis told the Los Angeles Times that he had moved to stabilize the company as a “prelude to an acquisition.”
“The company has limited cash, and we are trying to come up with a situation that allows the company to remain viable, ” Lemonis told the LAT. “We are in the final stages of working on a plan to get the stores reopened and people rehired.”
Lemonis, apparently not one to resist a pun, told the New York Daily News that the plan is “not fully baked yet.” Also, he was thinking Crumbs might offer more than just cupcakes, maybe add “sweets and snacks.”
He had nothing to say about a salad or freshly cut fruit.