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Crumbs Crumbs Bake Shop announced Monday that it would be closing all of its stores. The company, founded in , was once the world's largest cupcake vendor, according to The Wall Street Journal. But in mid, its same-store sales started declining just as the company was orchestrating a massive expansion. Crumbs was forced to begin closing stores, putting its expansion plans on hold.
An increasingly crowded market. Crumbs' s ame-stores sales started declining in mid as the cupcake market was rapidly growing more crowded. When Crumbs opened in , there were only three bakeries devoted to cupcakes nationwide, according to Newsweek. By , there were hundreds.
High real estate costs. Crumbs' stores were too large for its needs, according to Darren Tristano, executive vice president at the food industry research firm Technomic. The company's shops averaged about 1, square feet, with one outlet near Chicago measuring 3, square feet, Tristano told Crain's New York Business reporter Aaron Elstein. All Crumbs really needed was enough room for a cupcake display case and a register. Last accounts made up to 28 February Next statement date 3 February due by 17 February Cookies on Companies House services We use some essential cookies to make our services work.
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