Jason McGowan

Crumbl introduces $1.99 value offer amid sales struggles and store closures

This is from the weekly restaurant finance newsletter The Bottom Line.

Crumbl closes 57 locations as sales decline 32% year over year

The dessert chain promoted Jacob Moncur to succeed CTO Bryce Redd, who spent more than eight years leading the chain’s tech strategy.

We ask this because, among the 100 largest restaurant chains in the U.S., four were founded in the 2010s.

The rapid ascent of Crumbl Cookies into a multi-billion dollar franchise provides a case study in aggressive scaling, digital marketing, and operational agility.

Cofounders Jason McGowan and Sawyer Hemsley will exit day-to-day operations of the cookie giant but remain on the board as the brand seeks new executive leadership.

Crumbl Cookies founders Jason McGowan and Sawyer Hemsley are transitioning to advisory roles as the brand begins a search for new executive leadership.

TSG Consumer Partners takes a minority stake in Crumbl, the rapidly expanding cookie and dessert chain, for $1 billion.

Crumbl Cookies has grown to over 800 locations and gained a loyal, international customer base in just six years since its founding.

Crumbl Cookies has seen significant growth, with over 600 locations in 47 states and a 500% increase in growth from 2019.