Crumbs Bake Shop, Inc., along with its affiliates, filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the District of New Jersey on July 11, 2014. The debtor listed its assets and liabilities in the range of $10 million to $50 million. The largest unsecured creditors include IA Clarington Global Tactical Income Fund of IA Clarington Investments Inc., Kitchener Investment Corp, Tristan Partners and Tristan Offshore Fund of Cannell Capital LLC, Front Street - Canadian Hedge Fund of Front Street Capital, Aston Hill Mutual Funds - Aston Hill Growth & Income Fund, Aston Hill Opportunities Fund and Aston Hill Capital Growth Fund of Aston Hill Asset Management Inc., Front Street Mutual Funds Limited - Front Street Global Opportunities Class, Front Street Mutual Funds Limited - Front Street Tactical Equity Class and Front Street Growth & Income Class of Front Street Capital 2004, Marcandy Investments Inc., York Plains Investment Corp., Delrina Consolidated LTD. and The Retail Property Trust..

The debtor is represented by David M. Bass, Michael D. Sirota and Felice R. Yudkin of Cole, Schotz, Meisel, Forman & Leonard, P.A. as its legal counsels. Prime Clerk LLC acted as claims and noticing agent for the debtor. Prime Clerk received a retainer of $30,000 from the debtors at a maximum hourly rate of $235.