Patisserie Valerie closing 14 more stores
Up to 100 job losses are expected.
The Irish private equity firm that rescued Patisserie Valerie from administration is closing another 14 cafés, with up to 100 job losses expected to take place.
Causeway Capital, which acquired the brand together with 96 branches from administrators at KPMG last February, said that it had made the “difficult decision” to close the said outlets following a review of the estate.
“These difficult measures will enable [the company] to better focus on its investment programme on improving the quality of its patisseries over the coming months,” it said in a statement.
The firm previously lamented that the embattled chain had serious mismanagement issues.
When it bought the business from Patisserie Holdings group, KPMG had already closed 71 loss-making sites under the Patisserie Valerie and Druckers brands.
