Administrators to cafe chain Patisserie Valerie have confirmed the closure of 71 of its stores, following the company’s collapse.
The closures will result in 920 redundancies, as 27 standalone stores, 19 Druckers outlets and 25 Patisserie Valerie concessions in Debenhams, Next and at motorway service areas cease trading.
The company’s bakery in Spitalfields has also closed.
Patisserie Valerie said on Tuesday (22 Jan) that discussions with its lenders HSBC and Barclays to extend a standstill agreement on its debts had failed, leaving it with no other option than to call in corporate undertakers.
The firm’s parent company Patisserie Holdings has been attempting to manage the fallout of an accounting fraud since October.
However, the extend of fraud meant it was unable to renew its bank loans, leaving the firm with insufficient funding to continue trading.
KPMG was appointed on Tuesday to carry out a review of all the options following the accounting scandal which pushed the company to collapse.
‘Business as usual’
The joint administrators said they will provide all the necessary support and assistance to those employees who have lost their jobs, including how to apply to monies owed from the Redundancy Payments Service.
The remaining 122 outlets will continue to trade while the administrators seek a buyer for the business.
David Costley-Wood, partner at KPMG and joint administrator, said, “Since our appointment, we have been pleased with the level of interest we have received in the business, and so remain hopeful of achieving a positive outcome.
“In the meantime, we can reassure customers that across the remaining 122 stores, it is all but business as usual.”
What if I have a voucher?
Customers are also advised that any outstanding Patisserie Valerie vouchers are still being honoured by the joint administrators, although the public will be unable to purchase new vouchers going forward.
These are the 71 Patisserie Valerie outlets set for closure
- Basildon – Debenhams, The Eastgate Centre
- Beverley – Debenhams, Unit 4 Flemingate Centre, Flemingate
- Chelmsford – Debenhams, 27 High St
- Edinburgh – Debenhams, 109 Princes Street
- Glasgow – Debenhams, 97 Argyle Street
- Hereford – Debenhams, Auctioneers Walk, The Old Market
- Liverpool – Debenhams, 42 Lord Street
- London – Debenhams, 10 Garratt Lane, Southside Shopping Centre, Wandsworth
- London – Debenhams, Westfield Shopping Centre, Ariel Way
- London – Debenhams, 334-348 Oxford Street
- Middlesbrough – Debenhams, The Corner, 1 Newport Rd
- Newport – Debenhams, 1-7 Friars Walk Shopping Centre, John Frost Square
- Oxford – Debenhams, 1-12 Magdalen Street, OX1 3AA
- Redditch – Debenhams, Kingfisher Shopping Centre, 19 Watford Walk
- Stevenage – Debenhams, Roaring Meg Retail Park
- Telford – Debenhams, Telford Shopping Centre
- Wigan – Debenhams, Unit 39 Grand Arcade Shopping Centre, Compton Street
- Banbury – Druckers, Unit 28, Castle Quay Shopping Centre Castle Street
- Birmingham – Druckers, Café 1, Upper Mall West
- Birmingham – Druckers, 100 Great Western Arcade
- Burton – Druckers, Centre Mall Café, Cooper Square Shopping Centre
- Cheltenham – Druckers, Unit 28 Regent Arcade
- Coventry – Druckers, 66 Hertford Street
- Dudley – Druckers, Unit L78C Finance Mall Merry Hill Centre
- Hanley – Druckers, Unit 230, The Mall Café The Potteries Shopping Centre
- Leamington Spa – Druckers, Unit 35 Royal Priors
- Leeds White Rose – Druckers, White Rose Shopping Centre South Mall
- Leicester – Druckers, Fosse Park Food Court
- Manchester – Druckers, 169 The Arndale Centre
- Nottingham – Druckers, 218 Victoria Centre
- Poole – Druckers, The Mall Café Dolphin Center
- Redditch – Druckers, 25E Kingfisher Walk
- Solihul – Druckers – 26 Jubilee Walk
- Stratford Upon Avon – Druckers, 43 Henley Street
- Tamworth – Druckers, 51 Ankerside Centre George Street
- Wolverhampton – Druckers, 61 Dudley Street
- Baldock – Motorway, Unit 3 Extra MSA Baldock, A1(M) Junction 10
- Beaconsfield – Motorway, UNIT 2, M40 Junction 2
- Cambridge – Motorway, A14 (M11) Cambridge, Boxworth
- Peterborough – Motorway, Great North Road, Haddon
- Cheltenham – Next, 1A-1B, Gallagher Retail Park, Tewksbury Road
- Hounslow- Next, Unit 1 Treaty Centre, 263-265 High Street
- Manchester – Next, Unit 1C, Barton Square, Barton Dock Road
- Manchester – Next, Unit 22 Manchester Fort Shopping Centre, Cheltenman Hill Rd
- Bradford – Patisserie Valerie, The Broadway
- Brighton – Patisserie Valerie, 36 East Street
- Bristol – Patisserie Valerie, 57 Queens Road
- Bury – Patisserie Valerie, 26-28 The Haymarket
- Chester – Patisserie Valerie, 31, Bridge Street
- Chippenham – Patisserie Valerie, Unit 1b Borough Parade
- Cwmbran – Patisserie Valerie, 8 The Mall
- Derby – Patisserie Valerie, 2 Crown Walk
- Doncaster – Patisserie Valerie, Unit 100, 20 St Sepulchre Gate, Frenchgate Shopping Centre
- Glasgow – Patisserie Valerie, B12 Glasgow Fort
- Glasgow – Patisserie Valerie, 18-20 Royal Exchange Square
- Gloucester – Patisserie Valerie, 4 Southgate Street
- Leeds – Patisserie Valerie, Unit 2 Ground Floor, 8 St Pauls Street
- Liverpool – Patisserie Valerie, Unit 1, 35 Whitechapel
- London – Patisserie Valerie, 37 Brushfield Steet
- London – Patisserie Valerie, 94 Holland Park Avenue
- London – Patisserie Valerie, 44 Old Compton Street
- London – Patisserie Valerie, 24-26 Turnham Green Terrace
- London – Patisserie Valerie, 27 Kensington Church Street
- London – Patisserie Valerie, 15 Bedford Street
- London – Patisserie Valerie, 80 Long Acre
- London – Patisserie Valerie, 215 Brompton Road
- Manchester – Patisserie Valerie, 2-4 St Ann Street
- Newcastle – Patisserie Valerie, 141 Grainger Street
- Peterbrough – Patisserie Valerie, 2 Cathedral Square
- Salisbury – Patisserie Valerie, 24 Butchers Row
- Southport – Patisserie Valerie, 365 Lord Street