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Crumbs Bake Shops shutters all stores
New York -- Crumbs Bake Shops on Monday closed its 48 stores. The cupcake store chain has been struggling for some time. In a May filing with the Securities and Exchange Commission, it warned that it "may be forced to curtail or cease its activities" if its operations didn't generate enough cash flow.
Last week, Nasdaq suspended the trading of Crumbs shares on the grounds that the company no longer had at least $2.5 million in shareholder equity, or met benchmarks for an annual net profit.
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Report: Carrefour to shutter Indian stores
Mumbai, India – In a move that may have implications for Wal-Mart, French retailer Carrefour S.A. will reportedly shutter its five Indian wholesale stores by the end of September 2014. According to Reuters, Carrefour is in advanced talks to sell its Indian assets to an unspecified buyer.