Crumbs to be reopened by local investor

CT-CRUMBS-CUPCAKE_CTMAIN 0711 SR

Crumbs Bake Shop will be resurrected through a deal with local investor Marcus Lemonis, star of CNBC reality show “The Profit” and the owner of  Dippin’ Dots ice cream, the companies confirmed late Friday.

Marcus Lemonis and Fischer Enterprises L.L.C. today said in a statement they have formed a joint venture, Lemonis Fischer Acquisition Company, LLC that will provide financing and ultimately acquire the New York-based chain that abruptly closed all its stores on Monday.

Crumbs will file for Chapter 11 bankruptcy protection, the companies said. Lemonis and Fischer later plan to reopen the chain as a private company and reinstate its employees. The statement said the companies plan to reinvent the brand as more of a sweet and snacks shop, rather than just a cupcake store.

Lemonis, who has had a home in Lake Forest, also previously expressed an interest in the Portillo’s hot dog chain, which struck a deal to sell a stake in itself to an East Coast private equity firm.

—Samantha Bonkamp, Chicago Tribune

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

1 Comment

Follow

Get every new post delivered to your Inbox.

Join 689 other followers