Lemonis Planning to Invest in ‘Crumbs’ Chain
The struggling cupcake chain Crumbs Bake Shop, a national chain based in New York City, may live to bake another day.
Fortune reported that a group of investors — including Marcus Lemonis, the CEO of Camping World Inc. and Good Sam Enterprises LLC — is planning to invest in the baked goods chain, according to various reports.
After the news broke about the investors on Thursday (June 10), the stock soared from just 3 cents to 40 cents (or nearly 1,200%).
On Monday, Crumbs abruptly closed all its stores a week after the struggling retailer was delisted from the Nasdaq.
Lemonis told the New York Daily News he is planning to invest in Crumbs and is outlining a new strategy that will expand its offerings beyond cupcakes.
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