Patisserie Valerie

Patisserie Valerie saved in buyout backed by Irish private equity firm | Business – Business Article

The Patisserie Valerie cafe chain has been saved from closure by a management buyout backed by an Irish private equity firm. Almost 100 cafes will be rescued in the deal, backed by Causeway Capital, while another 21 sites under the Philpotts brand have been bought by AF Blakemore & Son, the family owned company which is the largest operator of Spar franchise outlets in the UK. The two deals will save about 2,000 jobs. Patisserie Holdings – the listed parent…

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Mike Ashley withdraws his surprise bid for Patisserie Valerie | Business – Business Article

Sports Direct has pulled out of the bidding for Patisserie Valerie, just two days after emerging as a surprise suitor for the stricken cake chain. Mike Ashley’s sportswear group walked away from talks on Sunday, ending the prospect that Patisserie Valerie could join House of Fraser, Evans Cycles and Sofa.com in the Sports Direct stable. The approach, made last Friday, was an unexpected twist in the battle to rescue Patisserie Valerie, which fell into administration in January after a £40m…

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Mike Ashley makes surprise bid for Patisserie Valerie | Business – Business Article

The sportswear tycoon Mike Ashley has made a surprise bid to add collapsed cake chain Patisserie Valerie to his high-street empire. On Friday evening the Sports Direct boss confirmed in a brief statement to the stock exchange that the company had made an offer for the stricken cake group, which plunged into administration last month. Patisserie Valerie went into a death spiral after the discovery of a £40m black hole in its finances, which it blamed on “potentially fraudulent” accounting…

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