Crumbs bakery saved by The Profit’s Marcus Lemonis

The Profit star Marcus Lemonis is buying Crumbs Bake Shop, the cupcake store that closed its stores Monday night. The store has fans, like the person who bought a “last” cupcake for $255, but it had been suffering financially recently.

Marcus LemonisLate Friday, Marcus Lemonis, and his partner in the venture, Fischer Enterprises, announced along with Crumbs that they’d buy the business. In the release, Marcus said:

“I truly believe in the Crumbs brand and am excited to help the Company enter into a new chapter in its history. I think there is tremendous opportunity to expand the Crumbs offering, build on the Company’s growth strategy and to leverage the synergies between Crumbs and other companies in my and the Fischers’ portfolio, such as Dippin’ Dots ice cream, Doc Popcorn, Wicked Good Cupcakes, Little Miss Muffin, Betty Lou’s snacks, a host of gluten-free baked goods, Matt’s Cookies, Pie King, Key West Key Lime Pies, Mr. Green Tea Ice Cream, Sweet Pete’s Candy and Coffee of Grace (Grace Hightower De Niro), as well as a new exciting product from an episode of the upcoming fall season of CNBC’s The Profit.”

Several of those companies–such as Key West Key Lime Pies and Sweet Pete’s Candy–were businesses that were featured on the CNBC show, on which Marcus Lemonis invests in challenged businesses.

The Lemonis Fischer Acquisition Company “would acquire substantially all of Crumbs’ assets” and “hopes to complete the sale process in approximately 60 days, pending receipt of the necessary approvals from the Bankruptcy Court,” according to a press release. They “will evaluate the retail strategy with the goal of reopening select locations or opening new locations in the future.”

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