Search

Future of Patisserie Valerie looks secure

PUBLISHED: 10:43 15 February 2019 | UPDATED: 10:43 15 February 2019

Patisserie Valerie seems set for a less rocky future after the cake chain was bought out of administration. Pic: www.edp24.co.uk

Patisserie Valerie seems set for a less rocky future after the cake chain was bought out of administration. Pic: www.edp24.co.uk

The future of the Patisserie Valerie cafes looks set to be secure after the cake chain was bought out of administration.

The deal secures the Norwich branch as well as the other cafes in the region, in Bury St Edmunds, Ipswich and Colchester.

The Irish private equity firm Causeway Capital Partners swooped in just days after Sports Direct’s Mike Ashley pulled out of his bid to buy the chain.

MORE: Have you tried the new award winning, flu busting cider?

Causeway Capital Parners owns cafes including BB Bakers & Baristas which has a store in Castle Mall, Norwich.

Patisserie Valerie Chairman Luke Johnson extended an unsecured, interest-free loan to help ensure that the January wages were paid to all staff working in the ongoing business but that didn’t stop the chain falling into administration. It closed 71 stores last month, including one in Chelmsford.

Patisserie Valerie’s sister brand Philpotts has also been sold in a separate deal to A.F. Blakemore & Son Ltd, saving 21 stores.


If you value what this story gives you, please consider supporting the Eastern Daily Press. Click the link in the orange box above for details.

Become a supporter

This newspaper has been a central part of community life for many years. Our industry faces testing times, which is why we're asking for your support. Every contribution will help us continue to produce local journalism that makes a measurable difference to our community.

Most Read

Latest from the Eastern Daily Press