Lake Forest Investor May Rescue Crumbs Cupcake Chain

(CBS) -- Lake Forest investor Marcus Lemonis confirms plans to rescue Crumbs, the gourmet cupcake chain that abruptly closed its 65 stores this week due to bankruptcy.

An investor group that includes Lemonis and the Fischer family, owners of the ice cream brand Dippin' Dots, would provide financing prior to acquisition, media reports say. Lemonis claims that Crumbs has the potential to become a one-stop snack shop for sweets-seekers.

"I, along with the potential other suitor, have investments in other cupcake, candy and dessert chains. I want to put pies, cookies, candies, and make it a dessert destination," he is quoted as saying.

Following the announcement, Crumbs' stock soared from 3 cents to 35 cents. The company posted an $18 million loss in 2013.