The NYC-based bakery had about 165 full-time employees and about 655 part-time hourly employees working in its stores.
According to Crains New York Business, cupcake sales have been going stale for at least a year. Crumbs lost nearly $4 million during the first three months of 2014, which is nearly double reported financial losses in the first three months of 2013.
Will Crumbs being swept out the door affect cupcake sales elsewhere, such as at NYC-based Magnolia Bakery? Stay tuned.