The Wall Street Journal reported Crumbs Bake Shop won court approval to begin reopening stores under a new ownership team that plans to expand the chain beyond its signature cupcakes.
The Wall Street Journal reported a judge ruled Crumbs Bake Shop may proceed with plans to sell itself at a bankruptcy auction, despite an objection from a newly formed creditor committee.
Crumbs Bake Shop announced that the U.S. Bankruptcy Court approved first day motions related to its voluntary Chapter 11 process, including access to DIP financing from Lemonis Fischer Acquisition.
The Wall Street Journal reported a bankruptcy judge put Crumbs Bake Shop on the path to a quick sale.
Crumbs Bake Shop announced it entered into an Asset Purchase Agreement through which Lemonis Fischer Acquisition will acquire the Crumbs’ business as part of voluntary Chapter 11 petitions.
Crumbs Bake Shop announced the closing of a $5 million facility. The lender, Fischer Enterprises, funded an initial $3.5 million and committed to providing an additional $1.5 million on or before April 1, 2014.