Sprinkles Cupcakes Closes All Stores After Private Equity Exit

Private equity firm KarpReilly removed Sprinkles from its holdings as the iconic chain shuttered all locations, potentially impacting over 1,000 employees.Candace Nelson, who sold the company in 2012 and retains no operational role, expressed shock and disappointment on social media as the final stores closed on Wednesday.Launched in 2005 and known for pioneering the cupcake ATM, the business was among the last remnants of the 2000s dessert boom alongside competitors like Georgetown Cupcakes.