The US Bankruptcy Court gave an order to Crumbs Bake Shop, Inc. to obtain DIP financing on an interim basis on July 16, 2014. As per the order, the debtor has been authorized to obtain a term loan in the amount of $0.2 million out of $1.13 million from Lemonis Fischer Acquisition Company, LLC. The DIP loan would carry an interest rate of 7% p.a., along with an additional 2% p.a. interest in the event of default.

The DIP facility would mature either on September 8, 2014 or on the date of consummation of the sale of substantially all assets, whichever is earlier. The final hearing has been scheduled for July 31, 2014.