Remaining 121 Patisserie Valerie stores to be "business as usual", CEO says
The 71 closures resulted in 920 employees losing their jobs.
Patisserie Valerie’s CEO Steve Francis says that “it’s business as usual” for the remaining 121 stores of the struggling chain. The statement from the chain came after the administrators KPMG has confirmed that 71 outlets has closed down.
The move resulted in 920 redundancies. Both Patisserie Valerie and KPMG assured that the employees who lost their jobs are aided in applying for monies owed from the Redundancy Payments Service.
“It sounds bizarre but it’s genuinely a positive development for the remaining business. I would rather have 2,000 fully employed staff than 3,000 with no future,” Francis said.
The company also mentioned that have a plan moving forward that had already begun in the past two weeks which includes forming a new management, extended opening hours, new menus across the estate and the development of a loyalty app.
Last January 23, their parent company Patisserie Holdings has announced that they fell into administration after bank talks have failed.
The company discovered a multi-million accounting hole last year due to fraud.
Photo credit: Patisserie Valerie Facebook
