Court documents show that Crumbs Bake Shop Inc. may get a second chance if a bankruptcy judge approves a deal for the owner of Dippin' Dots ice cream and the star of a reality television show to buy and reopen the U.S. cupcake chain, Reuters reported on Saturday. Crumbs, which specialized in oversized cupcakes and went public in 2011, shuttered its nearly 50 locations in 10 states and the District of Columbia on July 7 and filed for chapter 11 protection on Friday. Part of the group seeking to buy the chain is Marcus Lemonis, star of CNBC reality show "The Profit" and known as the "business turnaround king." He, along with Fischer Enterprises LLC, the owner of Dippin Dots, would provide debtor-in-possession financing and subsequently buy the cupcake chain through a joint venture called Lemonis Fischer Acquisition Co., according to the document. They would reform Crumbs as a privately held company, reopen its stores and resume operations.
