Its a sad, sad day for cupcake lovers all over America.

The famous, CRUMBS CUPCAKES, has been 'forced' to close its doors. A statement released yesterday says, "Regrettably Crumbs has been forced to cease operations and is immediately attending to the dislocation of its devoted employees while it evaluates its limited remaining options."

The store may consider filing for bankruptcy. Crumbs, once the world's largest cupcake empire, has been crumbling in recent months - due to NASDAQ stopped trading the company's stock on July 1 because Crumbs had failed to meet the minimum stockholders equity requirement of $2.5 million, The New York Times reported.  The company went public in 2011 but then quickly began losing money, Business Insider has previously reported.

Crumbs was born on Manhattan's Upper West Side in 2003, a few years after the HBO show "Sex and the City" inspired a cupcake craze in the Big Apple. The chain is known for its massive "Crumbs Signature Size cupcakes" that sell for as much as $4.50 each.

Does this mean the cupcake craze is officially over?