AP file photo/Matt Sayles
As Crumbs, er, crumbles, a Chicago businessman is sweeping in to save the cupcake chain.
Marcus Lemonis, who runs Lincolnshire-based RV business Camping World and hosts “The Profit” on CNBC, told the LA Times that he’s part of an investor group keeping New York-based Crumbs Bake Shop afloat.
Marcus Lemonis
“The company has limited cash, and we are trying to come up with a situation that allows the company to remain viable,” he told the newspaper. “We are in the final stages of working on a plan to get the stores reopened and people rehired.”
Crumbs shuttered 65 stores in 12 states this week, including two in Chicago. On Thursday the company confirmed that it’s in talks with “various interested parties” and could soon be back in business.
“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,” Crumbs CEO Edward Slezak said in a statement.
He didn’t name Lemonis or Fischer Enterprises, which Lemonis said is also part of the investor group.
Lemonis, a multimillionaire by way of long hours and rolling up his sleeves, has resurrected more than 100 failing businesses, including Rose’s Café and Bakery in Evanston and Highland Park.
The Associated Press contributed to this report.
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