All Patisserie Valerie articles – Page 3
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NewsFormer Pat Val CEO to sue Causeway Capital Partners
Former CEO of Patisserie Valerie Steve Francis has launched a lawsuit against the café chains new owners Causeway Capital Partners, and has warned of more store closures, according to The Times.
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NewsPat Val management team axed by backers
A source close to the ousted management team at Patisserie Valerie has said the decision came “like a bolt out of the blue” as the team prepared to take the business forward.
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NewsWeekend press round-up, 23-24 February 2019
MCA presents a round-up of this weekend’s press stories relating to the sector
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News
Baker & Spice sold to DoCASA
Patisserie Holdings has sold four Baker & Spice outlets to the Department of Coffee & Social Affairs (DoCASA) for £2.5m.
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Analysis & InsightEstablished in 1926, reborn 14 February 2019
Following the sale of Patisserie Valerie to Causeway Capital Partners, Rhys Iley spoke to MCA deputy editor Georgi Gyton about why he is viewing it as a new chapter for the business, and what changes the management team will be putting in place, including store refreshes, longer opening hours, NPD, and a new app.
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News
Patisserie Holdings sale confirmed for £13m
Patisserie Holdings has confirmed the sale of Patisserie Valerie, to Dublin-based Causeway Capital, and its sandwich shop business Philpotts to retail, wholesale and distribution firm A.F Blakemore, for £13m.
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NewsCauseway Capital "acquires Pat Val"
The Daily Telegraph is reporting that Patisserie Valerie has been bought by Irish private equity firm Causeway Capital Partners. The paper reports that almost all of Patisserie Valerie’s 120 remaining branches are to be saved - preserving up to 2,000 jobs after a deal was struck at 3am this morning. ...
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Opinion
Playing the long game
Yesterday, it was revealed that EAT has appointed advisory firm Spayne Lindsay to review its options. On the back of this, James Wallin speaks to chief executive Andrew Walker about the turnaround of the business, its international ambitions and why any sale process is 12 to 18 months away.
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NewsDeadline for final Pat Val bids today
Patisserie Holdings’ administrator KPMG has given bidders until lunchtime today to make their best and final offers for the business.
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NewsEncouraging bids for Patisserie Valerie
The administrators of Patisserie Holdings have confirmed they have received a number of offers for the business, with a number now being taken forward.
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NewsPat Val estate ‘likely to be sold off in chunks’
Ahead of today’s deadline for initial bids for the remaining Patisserie Holdings estate, it is looking increasingly likely that it will be sold off in chunks.
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NewsRescuer of Little Chef linked with Patisserie Valerie sale
Rcapital, the private equity firm that rescued Little Chef from collapse, is rumoured to be among those in the running to acquire most of the remaining Patisserie Valerie business from administration.
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NewsMike Ashley linked with bid for Patisserie Valerie
Sports Direct tycoon Mike Ashley has been linked with a move for Patisserie Valerie with David Scott also rumoured to be back in the frame to bid for a portion of the estate.
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NewsPWC report lifts lid on Pat Val collapse
A report by PWC into the suspected fraud at the heart of the collapse of Patisserie Holdings has allegedly uncovered forged company minutes used to take out overdrafts of almost £10m and fictitious invoices for shop refurbishments.
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Opinion
The disruptive lender
OakNorth, lender to Inception, Brasserie Bar Co and Leon, on why it is backing the hospitality sector.
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NewsHMRC ‘warned Patisserie Holdings in 2016 about possible fraud’
HM Revenue & Customs raised concerns with Patisserie Holdings that some of its invoices and cheques had been forged more than two years before the group revealed its accounting blackhole, The Times has reported.
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NewsPatisserie Holdings confirms details of store closures
The joint administrators of Patisserie Holdings have confirmed the details of the 71 “loss making” stores that have closed following the business entering administration yesterday.
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Analysis & InsightPatisserie Holdings: Inevitable but still unbelievable
As Patisserie Holdings called in administrators, with 70 sites to close, James Wallin reflects on the sad conclusion to a sorry tale, and why the trashing of Luke Johnson’s reputation does no favours for the sector.
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NewsPatisserie Holdings continues negotiations with bankers
Patisserie Holdings has confirmed it is still in discussions with its bankers to expend the standstill of its bank facilities beyond 18 January.
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NewsLee Ginsberg steps down from Patisserie Holdings
Patisserie Holdings has announced that non-executive director and deputy chairman Lee Ginsberg has resigned with immediate effect.