Patisserie Valerie collapses into administration putting Kent shops at risk

The future of troubled cafe chain Patisserie Valerie has been thrown into doubt after it collapsed into administration.

The company, which has four branches in Kent, will close 70 stores and concessions.

Details outlining which cafes will be affected are expected to be revealed in the next 24 hours.

Patisserie Valerie faces an uncertain future
Patisserie Valerie faces an uncertain future

This comes after rescue talks between Patisserie Valerie and its lenders HSBC and Barclays fell apart.

The company employs more than 3,000 people nationwide and has branches in Maidstone, Canterbury, Ashford and Tunbridge Wells.

Joint administrator Blair Nimmo from KPMG said: “Our intention is to continue trading across the profitable stores, as collectively, the brands have a strong presence on the high street and have proven very popular with consumers.

"At the same time, we will be seeking a buyer for the business and are hopeful of a good level of interest.

“However, we have had to take the difficult decision to close 70 stores resulting in a significant number of redundancies. We will be working with those affected employees, providing all the support and assistance they need.”

Patisserie Valerie will continue to trade from 121 stores as administrators assess the possibility of selling it.

The company announced in October that it faced a financial management crisis, which included a £1.1 million unpaid tax bill.

Its board also revealed it had been informed that a winding up notice had been issued by HM Revenue and Customs to its principal trading subsidiary, Stonebeach Limited, in September.

Prior to that, it said it had been "notified of significant, and potentially fraudulent, accounting irregularities" in the company's accounts.

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