Crumbs Bake Shop Inc. filed for Chapter 11 bankruptcy protection on Friday with plans to sell itself to an investor group that includes CNBC host Marcus Lemonis and Fischer Enterprises (owner of Dippin’ Dots).

Crumbs, which started in New York in 2003 and went public in 2011, posted losses of $10.3 million in 2012 and $18.2 million last year, according to The Wall Street Journal (citing regulatory filings). The company’s cash on hand fell to $893,000 at the end of 2013 – down from $6.3 million in 2012. However, net sales numbers improved from $43 million in 2012 to $47.2 million in 2013.
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Crumbs has ~48 stores 10 states and DC.

Last Updated on July 13, 2014 by Ramin Seddiq