Patisserie Valerie stores saved

Patisserie Valerie’s parent firm has been saved after its businesses were sold in two separate deals, saving 117 stores and 2,000 jobs. A total of 96 Patisserie Valerie stores have been acquired by Dublin-based Causeway Capital. Separately, all 21 stores trading under the Philpotts brand have been bought by A.F. Blakemore & Son, a food retail, wholesale and distribution company. The sale completed for a total consideration of £13m, comprising £10m cash and £3m deferred consideration. Patisserie Valerie’s joint administrators at KPMG said further announcements regarding the Baker and Spice brand will be made “in due course”. KPMG has continued