Published:
GAIL's Bakery sale on hold due to Brexit
The chain was exploring options for fresh funding, including a possible sale.
A new owner for Gail’s Bakery's parent company Bread Holdings have now been put on hold until after the UK leaves the European Union.
Such change in ownership is understood to be a windfall for Luke Johnson, who backed a management buyout of Gail’s in 2011 through his vehicle Risk Capital Partners (RCP).
Johnson is also the chair of Patisserie Valerie parent Patisserie Holdings, which avoided collapse. He pledged £20 million in loans to keep the business afloat after a irregularities were discovered in its accounts.
It is also understood that Johnson is an outspoken proponent of Britain leaving the EU.
(Photo credit: GAIL's Bakery Facebook)
