Crumbs Bake Shop Inc (OTCMKTS:CRMB): There May Soon Be Some Sweet
This week on The Broke and the Beautiful, there may soon be some sweet news for Crumbs Bake Shop Inc(OTCMKTS:CRMB), and a jury said the Dodgers were partially responsible for the beating of a San Francisco Giants fan. Also, Joe Francis won’t give up the keys to two fancy cars.
If you’re worried that cupcake chain Crumbs Bake Shop will be swept aside forever, don’t fret. As Daily Bankruptcy Review reported, CNBC reality-show host Marcus Lemonis is looking to bake up a new recipe for success for the company, which abruptly closed down on Monday. “We know that everyone has an emotional connection to the Crumbs brand and its products, and 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,” Edward Slezak, Crumbs’ chief executive and general counsel, said in a statement, though he didn’t specifically name Mr. Lemonis.
Mr. Lemonis told DBR that he has lent a “not that substantial” amount of money to the company, which has said bankruptcy could be an option. If Mr. Lemonis gets his chance to revive the brand, perhaps he’ll even make a profit.
The Los Angeles Dodgers had been accused by San Francisco Giants fan Bryan Stow of not providing enough security to prevent a major beating in 2011 at Dodger Stadium. This week, according to the Associated Press, a jury agreed that the Major League Baseball team was partially responsible for the attack, which left Mr. Stow brain damaged. Mr. Stow is set to get about $14 million from the settlement, which absolved ex-owner Frank McCourt.
“He’s not going to be 100 percent, maybe for a long time, maybe never. What he gets is going to help him through now, and that’s what he needs,” Mr. Stow’s father, Dave Stow, said.
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