Home   Kent Business   County news   Article

Patisserie Valerie future uncertain again as Mike Ashley pulls out of takeover talks

The future of a cafe chain is once again up in the air after a takeover deal collapsed.

Patisserie Valerie, which has branches in Maidstone, Canterbury, Ashford and Tunbridge Wells, went into administration last month.

But it looked as thought it could be saved last week when Mike Ashley, boss of Sports Direct, put in an offer to take over the stores in a deal believed to be worth £15 million.

Mike Ashley has pulled out of takeover talks for Patisserie Valerie
Mike Ashley has pulled out of takeover talks for Patisserie Valerie

However, he has now pulled out of the process.

Patisserie Valerie slumped into adminstration in January, but kept its best performing stores open while adminstrators KPMG sought a buyer.

All of the Kent stores continued to trade as a result as 70 outlets across the country were closed.

Patisserie Valerie store at the Ashford Designer Outlet continues to trade
Patisserie Valerie store at the Ashford Designer Outlet continues to trade

The company had admitted it faced a financial crisis back in October.

Other interested parties are believed to include coffee chain Costa.

Join the debate...
Comments |

Don't have an account? Please Register first!

The KM Group does not moderate comments. Please click here for our house rules.

People who post abusive comments about other users or those featured in articles will be banned.

Thank you. Your comment has been received and will appear on the site shortly.

 

Terms of Comments
We do not actively moderate, monitor or edit contributions to the reader comments but we may intervene and take such action as we think necessary, please click here for our house rules. If you have any concerns over the contents on our site, please either register those concerns using the report abuse button, contact us here, email multimediadesk@thekmgroup.co.uk or call 01634 227989.

Close This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies.Learn More