What I know is they started a Lucky Ant campaign, and have now announced they're throwing in the towel and closing. Peter, the owner, who took over from his mother, seems to be looking to perhaps do wholesale baking. Here's a blog item: http://evgrieve.com/2012/12/reader-repo ... y-and.html
I think they were looking for a person to help with overhauling, but probably found it difficult to attract good talent with such low margins. That's speculation though.
I will miss them, I even contributed to the campaign to keep it going. Their "sweets" could have been a little sweeter, but the sandwiches and savory stuff were great.